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: firstname.lastname@example.org;
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150930006867/en/
TravelCenters of America LLC
Katie Strohacker, 617-796-8251
Source: TravelCenters - Financial
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