RED LION HOTELS CORP. CLOSES $14 MILLION LOAN FOR HOTEL

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BELLEVUE, WASH. — Red Lion Hotels Corp. has closed on a $14 million loan for its 181-room hotel in Bellevue. Terms of the 5-year loan include a variable spread over LIBOR based on certain financial ratios. The current pricing is 1.75 percent over LIBOR. The company used a portion of the loan to pay off an existing approximately $8.2 million loan. The remainder will be used for general corporate purposes.

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