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TravelCenters of America LLC Prices $100 Million of 8.00% Unsecured Senior Notes Due 2030

9/30/2015

WESTLAKE, Ohio--(BUSINESS WIRE)-- TravelCenters of America LLC (NYSE: TA) today announced that it has priced an underwritten public offering of $100 million of 8.00% Senior Notes due 2030 ("Notes").

TA intends to use the net proceeds from this offering for general business purposes, including acquisitions and construction of additional travel centers and convenience stores, funding capital improvements to its travel centers and convenience stores and other expansion activities. The settlement of the offering is expected to occur on October 5, 2015, subject to customary closing conditions. TA granted the underwriters an option to purchase up to an additional $15 million of Notes within 30 days solely to cover overallotments, if any. TA intends to apply to list the Notes on the New York Stock Exchange under the ticker "TANP" and, if approved, expects trading to begin within 30 days after the original issue date of the Notes.

The joint book-running managers for the offering were Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, and UBS Securities LLC. The co-managers were BB&T Capital Markets, a division of BB&T Securities LLC, D.A. Davidson & Co., FBR Capital Markets & Co., Janney Montgomery Scott LLC, and Oppenheimer & Co. Inc.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Copies of the prospectus relating to the offering may be obtained by contacting the offices of: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; RBC Capital Markets, LLC, Three World Financial Center, 200 Vesey Street, New York, NY 10281, Attn: Debt Capital Markets, telephone: (866) 375-6829, email: rbcnyfixedincomeprospectus@rbccm.com; or UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: (877) 827-7275.

About TravelCenters of America LLC:

TA's travel centers operate under the "TravelCenters of America", "TA", "Petro Stopping Centers" and "Petro" brand names and offer diesel and gasoline fueling, restaurants, truck repair facilities, travel/convenience stores and other services. TA's nationwide business includes travel centers located in 43 U.S. states and in Canada. TA also operates retail gasoline stations/convenience stores principally under the "Minit Mart" brand name.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON TA'S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE:

  • THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE SALE OF NOTES IS EXPECTED TO OCCUR ON OCTOBER 5, 2015. THE SETTLEMENT OF THE OFFERING IS SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR, THE OFFERING MAY NOT CLOSE.
  • THIS PRESS RELEASE STATES THAT TA INTENDS TO USE THE NET PROCEEDS FROM THE OFFERING FOR GENERAL BUSINESS PURPOSES, INCLUDING ACQUISITIONS AND CONSTRUCTION OF ADDITIONAL TRAVEL CENTERS AND CONVENIENCE STORES, FUNDING CAPITAL IMPROVEMENTS TO ITS TRAVEL CENTERS AND CONVENIENCE STORES AND OTHER EXPANSION ACTIVITIES. HOWEVER, IF THE OFFERING IS WITHDRAWN, SUCH ACTIVITIES MAY BE LIMITED.
  • THIS PRESS RELEASE STATES THAT THE UNDERWRITERS HAVE BEEN GRANTED AN OPTION TO PURCHASE UP TO $15 MILLION OF ADDITIONAL NOTES, SOLELY TO COVER OVERALLOTMENTS, IF ANY. AN IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY BE EXERCISED IN WHOLE OR PART. IN FACT, TA DOES NOT KNOW WHETHER OR NOT THE UNDERWRITERS WILL EXERCISE THIS OPTION OR ANY PART OF IT.

FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

TravelCenters of America LLC
Katie Strohacker, 617-796-8251
Director, Investor Relations

Source: TravelCenters - Financial

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