CORRECTING and REPLACING Wyndham International Achieves Bank Amendment Requirements to Extend Maturities; Asset Sales Provide Proceeds To Further Reduce Debt.Business Editors/Travel Writers Correction by...Wyndham International, Inc. DALLAS--(BUSINESS WIRE)--Dec. 11, 2003 In BW5616 issued Dec. 11, 2003: The second paragraph, third sentence should read: On Dec. 11, 2003, the Company repaid the remaining debt obligations as specified in the amendment. (sted On Dec. 11, 2004, the Company repaid the remaining debt obligations as specified in the amendment.) The corrected release reads: WYNDHAM INTERNATIONAL ACHIEVES BANK AMENDMENT REQUIREMENTS TO EXTEND MATURITIES; ASSET SALES PROVIDE PROCEEDS TO FURTHER REDUCE DEBT Wyndham International, Inc. (AMEX AMEX See: American Stock Exchange :WBR WBR West Baton Rouge WBR With Best Regards WBR Warner Brothers Records (record label) WBR Whole Brain Radiation WBR Big Rapids, Michigan (Airport Code) WBR Wide Band Radio WBR Widening But Replicating ) announced today that it has successfully completed all requirements necessary to affect the extensions of its increasing rate loans and revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facilities to April 2006. Additionally, Wyndham was able to meet all requirements well in advance of the designated deadline of Feb. 29, 2004. To affect the maturity extensions, Wyndham was required to repay approximately $200 million of the term and increasing rate facilities, and refinance one of the Company's largest mortgage pools. In June, Wyndham announced the successful refinancing of the Company's two largest mortgage pools. On Dec. 11, 2003, the Company repaid the remaining debt obligations as specified in the amendment. As a result of the extensions, there will be no significant corporate facility maturities until 2006. "Achieving the amendment requirements well before the deadline and extending our maturities is a triumph for Wyndham," said Fred J. Kleisner, chairman and chief executive officer for Wyndham. "The extension of the term of our credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities puts us in position to focus on our business and take full advantage of the recovering economy." Wyndham International, Inc. offers upscale and luxury hotel and resort accommodations through proprietary lodging brands and a management services division. Based in Dallas, Wyndham International owns, leases, manages and franchises hotels and resorts in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Mexico, the Caribbean and Europe. For more information, visit www.wyndham.com. For reservations, call 800-WYNDHAM. Cautionary Statement This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Sections 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including projections about future operating results. The Company's results, expectations and objectives could differ materially from those set forth in the forward-looking statements. Certain factors that might cause a difference include, but are not limited to, risks associated with the availability of equity or debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay at terms and conditions favorable to Wyndham; risks associated with the course of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; Wyndham's ability to effect sales of assets on favorable terms and conditions; Wyndham's ability to integrate acquisitions into its operations and management; risks associated with the hotel industry and real estate markets in general; competition within the lodging industry; the impact of general economic conditions; travelers' fears of exposure to contagious diseases contagious diseases: see communicable diseases. ; the impact of terrorist activity or war, threats of terrorist activity or war and responses thereto on the economy in general and the travel and hotel industries in particular; risks associated with debt financing; and other risks and uncertainties set forth in the company's annual, quarterly and current reports, and proxy statements Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. . |
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