MeriStar Sells $170MM of Notes

MeriStar Hospitality Corp., Washington, has completed the sale of $170 million of 9.50% convertible subordinated notes due 2010.The total included $15 million to cover the underwriter's overallotments, the real estate investment trust said. The notes are convertible (subject to adjustment in certain circumstances) into MeriStar common stock at a conversion price of $10.18 per share, the REIT said. The offer was underwritten by Lehman Brothers. The REIT can be found online at http://www.meristar.com.

Processing Content

For reprint and licensing requests for this article, click here.
Originations
MORE FROM NATIONAL MORTGAGE NEWS
Load More