Actionable news
0
All posts from Actionable news
Actionable news in TA: TRAVELCENTERS OF AMERICA LLC,

Entry Into a Material Definitive

On October5, 2015, TravelCenters of America LLC, or the Company, completed the issuance and sale of $100 million aggregate principal amount of 8.00% Senior Notes due 2030, or the Notes, in an underwritten public offering pursuant to an underwriting agreement, dated September30, 2015, by and among the Company and Citigroup Global Markets Inc., Morgan Stanley& Co. LLC, RBC Capital Markets, LLC and UBS Securities LLC, as the representatives of the several underwriters named therein, or the Underwriting Agreement, as described in the prospectus supplement dated September30, 2015, filed October 1, 2015, pursuant to the Companys registration statement on FormS-3, Registration No.333-206711. The underwriters have an option to purchase up to an additional $15 million aggregate princi pal amount of Notes within 30 days of the date of the Underwriting Agreement solely to cover overallotments, if any.

In connection with the closing of this offering, on October5, 2015, the Company entered into the Third Supplemental Indenture to the Indenture dated January15, 2013, between the Company and U.S. Bank National Association, as trustee, for the issuance of the Notes. The Notes bear interest at 8.00% per annum, payable quarterly in arrears on January15, April15, July15 and October15 of each year, beginning on January15, 2016. The Notes will mature (unless previously redeemed) on October15, 2030. The Company may, at its option, at any time on or after October15, 2018, redeem some or all of the Notes by paying 100% of the principal amount of the Notes to be redeemed plus accrued but unpaid interest, if any, to, but not including, the redemption date.

The Notes are the Companys senior unsecured obligations and have no financial covenants. The Indenture does not contain any limit on the amount of indebtedness the Company may incur. The Company may issue additional debt from time to time, including additional Notes or other debt pursuant to the Indenture.

The Company intends to use the net proceeds from this offering for general business purposes, including acquisitions and construction of travel centers and convenience stores, funding...


More