Choice Receives Cash From Sunburst

SILVER SPRING, MD Choice Hotels International has received from Sunburst Hospitality Corp. approximately $102 million in cash and an 11 3/8% seven-year senior subordinated note in the amount of $35 million, which contains standard and customary high-yield loan terms and conditions. The note contains, among other things, a cash pay interest feature that begins 18 months from issuance. (1/5/01)