IRVING, TX—FelCor Lodging Trust Incorporated has closed a $140 million term loan, secured by three unspecified properties, as part of its plan to restructure its balance sheet.

FelCor expects to use proceeds from the term loan, cash on hand and its line of credit to redeem its remaining $234 million of 10% senior secured notes in August. FelCor will thereafter use proceeds from pending and future asset sales to repay debt and complete its balance sheet restructuring.

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