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Winston Hotels announced that one of its wholly owned subsidiaries entered into a five-year line of credit with General Electric Capital Corp
Hotel & Motel Management, May 2, 2005 by Elaine Simon
Winston Hotels announced that one of its wholly owned subsidiaries entered into a five-year line of credit with General Electric Capital Corp. The line provides for revolving loan commitments of up to $155 million. Borrowings bear interest at rates from 30-, 60-, 90- or 120-day London interbank-offered rates plus 1.75 percent to 2.50 percent. The current interest rate is 30-day LIBOR plus 2 percent.
Compiled by Elaine Simon, esimon@advanstar.com
COPYRIGHT 2005 Questex Media Group, Inc.
COPYRIGHT 2005 Gale Group
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