This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TravelCenters Of America LLC Enters New $200 Million Credit Facility

TravelCenters of America LLC (NYSE Amex: TA) today announced that it has entered into a new $200 million revolving credit facility. The new facility replaces TA’s previous $100 million credit facility, which had a maturity date of November 12, 2012. The maturity date of the new facility is October 25, 2016. Drawings under this new credit facility will require interest payments of LIBOR plus a spread (currently 225 basis points) and are secured by TA’s accounts receivable, inventory and other assets (excluding real estate assets). The new credit facility also includes a feature under which the maximum borrowing may be increased up to $300 million in certain circumstances.

Wells Fargo Capital Finance, LLC, part of Wells Fargo & Company (NYSE: WFC), acted as sole lead arranger and bookrunner for the new facility. Banks participating in the new facility are as follows:

 

Name of Institution

         

Facility Title

Wells Fargo Capital Finance, LLC Sole Lead Arranger and Bookrunner
PNC Bank, National Association Syndication Agent
Regions Bank Co-Documentation Agent
UBS Loan Finance LLC Co-Documentation Agent
Citibank, NA Lender
First Merit Bank, N.A. Lender
The Huntington National Bank Lender
Flagstar Bank, FSB Lender
Siemens Financial Services, Inc. Lender
City National Bank Lender

TA’s travel centers operate under the “TravelCenters of America”, “TA” and “Petro” brand names and offer diesel and gasoline fuel, restaurants, truck repair services, travel and convenience stores and other services. TA’s nationwide business includes travel centers located in 41 U.S. states and in Canada.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs