Key Developments: TravelCenters of America LLC (TA)
10.51USD
19 Jun 2013
$-0.10 (-0.94%)
$10.61
$10.60
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157,662
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$12.50
$4.18
Latest Key Developments (Source: Significant Developments)
TravelCenters of America LLC Prices $100 Million of 8.25% Senior Notes Due 2028
TravelCenters of America LLC announced that it has priced an underwritten public offering of $100 million of 8.25% unsecured senior notes due January 15, 2028. The notes include a provision that allows for the Company to call the notes at par plus accrued interest beginning on January 15, 2016. TA expects to use the net proceeds from this offering for general business purposes, including acquisitions, funding capital improvements to its existing travel centers and other expansion activities. The settlement of this offering is expected to occur on January 15, 2013. TA granted the underwriters an option to purchase up to $15.0 million of additional notes within 30 days solely to cover overallotments, if any. TA intends to apply to list the notes on the NYSE MKT, under the symbol “TA/28” and, if approved, expects trading to begin within 30 days after the original issue date of the notes. The joint book-running managers for this offering are Citigroup, RBC Capital Markets and UBS Investment Bank. The lead manager is MLV & Co. The co-managers for the offering are BB&T Capital Markets, Janney Montgomery Scott and Oppenheimer & Co. Full Article
TravelCenters of America LLC Acquires Travel Center In Florence
TravelCenters of America LLC announced the acquisition and rebranding of a travel center in Florence, SC, to the Petro Stopping Centers brand. Petro Florence is located at I-95, exit 169 (3001 TV Road), in South Carolina. Amenities at the new Petro include: 210 truck parking spaces on a spacious, well-lit parking lot; 12 diesel lanes; Fully stocked travel store; Petro:Lube Truck Service repair facility with four service bays; 19 showers; Full-serve restaurant; Emergency roadside service, available 24/7/365; UltraONE Rewards Program kiosk and swiping system; CAT Scale; Truck Wash; and Laundry Facility. The terms of the transaction were not disclosed. Full Article
Shell, TravelCenters of America to open first LNG station next year
LOS ANGELES, April 15 - Royal Dutch Shell Plc and truck stop owner TravelCenters of America LLC said on Monday they will open the first of up to 100 planned liquefied natural gas fueling stations for U.S. trucks in about a year.
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