TravelCenters bank debt to be repaid in connection with purchase by Hospitality Properties

By Sara Rosenberg

New York, Dec. 12 - TravelCenters of America, Inc. will repay its existing bank debt and terminate its credit facility in conjunction with its planned acquisition by Hospitality Properties Trust, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

Hospitality Properties is buying the company from a group of private equity investors led by Oak Hill Capital Partners, LP for $1.9 billion.

TravelCenters is a Westlake, Ohio, network of full-service travel centers.

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