June 15, 2009 (FinancialWire) — FelCor Lodging Trust Inc. (NYSE: FCH) said that its wholly-owned subsidiaries closed a $200 million secured term loan. JPMorgan Securities (NYSE: JPM) was the lead arranger.

The company said it will use the proceeds of the loan for general corporate purposes, including repayment of outstanding obligations totaling $128 million under FelCor’s line of credit, which was terminated by the company.

FelCor said that the new loan is non-recourse and secured by nine hotels, representing 2,331 guest rooms. The loan bears interest at LIBOR plus 350 basis points, has a 65 percent LTV ratio and, including both extension options, matures in 2013.

Irving, Texas-based FelCor is a real estate investment trust that ows all-suite hotels. FelCor owns interests in 87 hotels and resorts, located in 23 states and Canada.

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