Dec 18 (Reuters) - Holloway Lodging Corp HLC.TO :
* . ANNOUNCES SALE OF HOLIDAY INN® HOTEL IN OTTAWA, DEBENTURE REDEMPTION AND SUBSTANTIAL ISSUER BID
* DEAL FOR $50.0 MILLION
* WILL RECORD A GAIN ON SALE OF APPROXIMATELY $26.3 MILLION IN Q4 OF 2018
* HOLLOWAY LODGING - HOLLOWAY REPAID $14.3 MILLION OF ITS SYNDICATED TERM LOAN AND REDUCED ITS COMMITTED SYNDICATED REVOLVING CREDIT FACILITY TO $21.0 MILLION
* HOLLOWAY RECEIVED APPROXIMATELY $45.6 MILLION OF PROCEEDS AFTER CLOSING COSTS AND PROVISION OF A $3.0 MILLION SECOND MORTGAGE