-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KVzuAGdgMkhCQYdYYxqlHTD1JrKO/8xIXpwwe7KPJUgY97liAmYhU/ldEormrx4u 4J1AiK1QJvw1GGv7Ofz5TA== 0000899078-97-000343.txt : 19971009 0000899078-97-000343.hdr.sgml : 19971009 ACCESSION NUMBER: 0000899078-97-000343 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971001 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971008 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: FELCOR SUITE HOTELS INC CENTRAL INDEX KEY: 0000923603 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 752541756 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-14236 FILM NUMBER: 97692237 BUSINESS ADDRESS: STREET 1: 545 E JOHN CARPENTER FREEWAY STREET 2: SUITE 1300 CITY: IRVING STATE: TX ZIP: 75062 BUSINESS PHONE: 2144444900 MAIL ADDRESS: STREET 1: 545 E JOHN CARPENTER FREEWAY STREET 2: SUITE 1300 CITY: IRVING STATE: TX ZIP: 75062 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 1, 1997 FELCOR SUITE HOTELS, INC. (Exact name of registrant as specified in its charter) Maryland 0-24250 72-2541756 (State or other jurisdiction of (Commission File Number) (IRS Employer incorporation) Identification No.) 545 E. John Carpenter Freeway, Suite 1300, Irving, Texas 75062 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (972) 444-4900 (Not Applicable) (Former name or former address, if changed since last report) 1 Item 5. Other Events ------------ The Registrant files herewith the exhibit listed in Item 7(c) below. Item 7(c). Exhibits -------- The following exhibit is furnished in accordance with Item 601 of Regulation S-K: 99 Press Release dated October 1, 1997 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FELCOR SUITE HOTELS INC. (Registrant) Date:October 6, 1997 By: /s/Lawrence D. Robinson --------------------------------------------- Lawrence D. Robinson Senior Vice President, General Counsel and Secretary 3 EX-99 2 EXHIBIT 99 - PRESS RELEASE INDEX TO EXHIBITS Exhibit Sequentially No. Exhibit Numbered Page ------- -------------------------------------------- ------------- 99 Press Release dated October 1, 1997 FOR IMMEDIATE RELEASE Contacts: Thomas J. Corcoran, Jr. - --------------------- President & CEO William S. McCalmont Senior Vice President & CFO (972) 444-4900 FELCOR SUITE HOTELS, INC. ANNOUNCES SUCCESSFUL PRIVATE PLACEMENT OF $300 MILLION IN LONG TERM DEBT $175 Million of 73/8% Senior Notes Due 2004 $125 Million of 75/8% Senior Notes Due 2007 IRVING, TEXAS....October 1, 1997 - FelCor Suite Hotels, Inc. (NYSE:FCH), today announced that FelCor Suites Limited Partnership has completed the private placement of $300 million in aggregate principal amount of its long term senior unsecured notes. Due to the favorable rates and strong market demand, the Company increased the size of its note offering from the $150 million previously announced. The notes were issued in two maturities, consisting of $175 million of 73/8% Senior Notes Due 2004 priced at 99.489% to yield 7.47% and $125 million of 75/8% Senior Notes Due 2007 priced at 99.209% to yield 7.74%, and are guaranteed by FelCor Suite Hotels, Inc. and certain of its subsidiaries. FelCor Suite Hotels, Inc. serves as the sole general partner of, and owns a 92.6% equity interest in, FelCor Suites Limited Partnership, which holds the Company's interests in 71 hotel properties. The approximately $294 million in net proceeds from the sale of the notes was used primarily to repay an $85 million floating rate secured term loan, to fund the $51 million purchase price of the Sheraton(R) (Society Hill) hotel in Philadelphia, Pennsylvania announced earlier today and to pay down the Company's $550 million unsecured revolving line of credit by approximately $155 million, leaving a current balance under the line of approximately $91 million. Following the application of such proceeds, the Company's consolidated indebtedness amounts to approximately $428 million, of which approximately 90% is fixed rate debt and 10% is floating rate debt. In addition, the Company has reduced its consolidated secured indebtedness to approximately $12 million, leaving the Company with unencumbered assets of approximately $1.6 billion, at cost. "We believe that the addition to our capital structure of this attractively priced fixed-rate long term debt is an important part of our conservative capital strategy," said Thomas J. Corcoran, Jr., FelCor's President and CEO. "The use of low-cost debt provides a means of reducing our cost of funds and enhancing returns to our shareholders." - more - Placement of $300 Million in Senior Notes Page 2 FelCor Suite Hotels, Inc., which was formed in July 1994 by the founding President of Embassy Suites(R) hotels, Hervey A. Feldman, and his partner and long-time hotel and restaurant executive Thomas J. Corcoran, Jr. is the only real estate investment trust (REIT) focusing on upscale, full-service, all-suite hotels and is the world's largest owner of Embassy Suites hotels. Its current portfolio of 71 hotels contains an aggregate of 17,486 suites and rooms and consists of 51 Embassy Suites hotels (of which 27 were converted from other brands), one hotel in the process of conversion to an Embassy Suites hotel; 12 Doubletree Guest Suites(R) hotels; six Sheraton hotels (four of which are up-scale, full-service traditional non-suite hotels); and one Hilton Suites(R) hotel. FelCor's total market capitalization is in excess of $2.2 billion. With the exception of historical information, the matters discussed in this news release include "forward looking statements" within the meaning of the federal securities laws and are qualified by cautionary statements contained herein and in FelCor's filings with the Securities and Exchange Commission. 2 -----END PRIVACY-ENHANCED MESSAGE-----