June 27th, 2007
Winston Hotels announced that one of its wholly owned subsidiaries entered into a five-year line of credit with General Electric Capital Corp
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.