Hospitality Net -- FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that its wholly-owned subsidiaries closed a $200 million secured term loan. JPMorgan Securities Inc. was the lead arranger, and JPMorgan Chase Bank, N.A., is the administrative agent and provided a portion of the loan. Proceeds of the new loan will be used for general corporate purposes, including repayment of outstanding obligations totaling $128 million under FelCor’s line of credit, which was terminated by the Company.
