FelCor Lodging Trust Inc. solicited consent from holders of its 6.000% senior notes due 2025 to amend the indenture governing the notes.
Amending the indenture will allow FelCor to bypass making a "change of control offer" during the proposed merger of the company with RLJ Lodging Trust.
The company will pay $2.50 per $1,000 principal amount of the notes to noteholders who have validly delivered consent letters by 5 p.m. ET on Aug. 9.
Payment is conditional on the fulfillment of all the conditions stated on the consent solicitation statement and the consummation of the merger, which is likely to occur on or about Aug. 31, according to the company.