By Stephanie N. Rotondo
Phoenix, Jan. 8 - TravelCenters of America LLC priced $100 million of $25-par senior notes due Jan. 15, 2028 at 8.25%, according to a market source.
Joint bookrunners are Citigroup Global Markets Inc., RBC Capital Markets LLC and UBS Securities LLC.
Interest will be payable on the 15th day of January, April, July and October, beginning April 15.
The non-rated notes will become redeemable on Jan. 15, 2016 at par plus accrued interest.
TravelCenters intends to list the new securities on the NYSE MKT exchange.
Proceeds will be used for general business purposes, including the acquisition of additional travel centers, funding capital improvements and other expansion activities.
TravelCenters of America is a Newton, Mass.-based operator and franchisor of travel centers primarily along the U.S. highway system.
| Issuer: | TravelCenters of America LLC
|
| Securities: | Senior notes
|
| Amount: | $100 million, upsized from $35 million
|
| Greenshoe: | $15 million
|
| Maturity: | Jan. 15, 2028
|
| Bookrunners: | Citigroup Global Markets Inc., RBC Capital Markets LLC, UBS Securities LLC
|
| Lead manager: | MLV & Co.
|
| Co-managers: | Janney Montgomery Scott LLC, Oppenheimer & Co., BB&T Capital Markets
|
| Coupon: | 8.25%
|
| Price: | Par of $25
|
| Yield: | 8.25%
|
| Talk: | Around 8.25%
|
| Call option: | On or after Jan. 15, 2016 at par plus accrued interest
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 15
|
| Expected symbol: | NYSE MKT: TA/28
|
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