Legends Hospitality starts virtual roadshow for $360 million five-year secured notes

By Paul A. Harris

Portland, Ore., Jan. 12 – Legends Hospitality Holding Co., LLC started a virtual roadshow on Tuesday for a $360 million offering of five-year senior secured notes, according to a syndicate source.

An investor call was scheduled to begin at noon ET on Tuesday.

The Rule 144A and Regulation S deal will be marketed on the roadshow through Friday.

Goldman Sachs & Co. LLC is the left bookrunner. Wells Fargo Securities LLC and BofA Securities Inc. are the joint bookrunners.

The notes come with two years of call protection.

The notes offering comes as financing to support Sixth Street Partners' majority investment in the company. Proceeds, together with the proceeds from the share purchase transaction and borrowings under the revolver and PIK facility, will be used to refinance all existing debt, to fund cash to the balance sheet, as well as for working capital and general corporate purposes.

Legends Hospitality is a New York-based supplier of food, beverage, merchandise, retail and stadium operations.

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