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Highland Hospitality To Revamp $2B Debt
Hotel chain Highland Hospitality may give up ownership to a group of creditors.
Hotel chainHighland Hospitalitymay give up ownership to a group of creditors,The Wall Street Journalreports. The deal is expected to be completed outside bankruptcy court, restructuring about $2 billion in debt and eliminating about $600 million of Highland’s debt.
The creditors includeAshfordHospitality Trust,PrudentialFinancial,BarclaysandBlackstone Group. The company has appointed law firm,Weil Gotshal & Manges律师事务所and investment bank,Lazard, to represent it.
Click here for the story fromThe Wall Street Journal.