A bank group holding $2.5 billion of loans to Patriot American Hospitality Inc. will be asked to ease repayment terms, the company said Thursday.

The move came after debt-riddled Patriot American said it had hired Chase Securities Inc. and Morgan Stanley Dean Witter & Co. as advisers.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.