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Article: MeriStar Hotels & Resorts Closes on $100 Million in Debt Financing.
- Article from:
- Business Wire
- Article date:
- March 2, 2000
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Business Editors
WASHINGTON--(BUSINESS WIRE)--March 2, 2000
MeriStar Hotels & Resorts (NYSE:MMH), the nation's largest independent hotel management company, today announced that it had closed on a $100 million debt facility.
The facility was provided by Societe Generale, Citibank/Salomon Smith Barney, Lehman Brothers, Credit Lyonnais, and Scotia Capital. Net proceeds of the facility will be used to repay the existing $65 million facility with MeriStar Hospitality Corporation (NYSE:MHX).
"This facility provides the capacity to continue our expansion in the hospitality and leisure industries," said Paul Whetsell, chairman and CEO of ...