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TravelCenters’ 8% $25-par senior notes due 2029 admitted to NYSE
By Stephanie N. Rotondo
Phoenix, Dec. 19 – TravelCenters of America LLC’s $120 million of 8% senior notes due 2029 listed on the New York Stock Exchange on Friday.
The deal priced Dec. 9. The ticker symbol is “TANO.”
Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC and UBS Securities LLC were the joint bookrunners. MLV & Co. LLC was the lead manager.
The notes come due Dec. 15, 2029.
Interest will be payable the last day of February, May, August and November. The company will have the option to redeem the notes at par plus accrued interest on or after Dec. 15, 2017.
Proceeds will be used for general business purposes, including acquisitions and construction of additional travel centers and convenience stores, capital improvements to existing travel centers and stores and for other expansion activities.
TravelCenters is a Westlake, Ohio-based leading operator and franchisor of travel centers primarily along the U.S. interstate highway system.
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