TravelCenters of America announced it amended its existing $200 million revolving credit facility.

Wells Fargo Capital Finance acted as sole lead arranger and bookrunner. PNC Bank acted syndication agent, Regions Bank acted as co-documentation agent, UBS Loan Finance acted as co-documentation agent,; and Citibank, The Huntington National Bank, Siemens Financial Services and City National Bank as lenders.

Prior to the amendment, TA’s credit facility had a maturity date of October 25, 2016 and interest paid on drawings was LIBOR plus 225 basis points. The maturity date of the amended credit facility is extended by more than three years to December 19, 2019, and interest paid on drawings is reduced to LIBOR plus 150 basis points, subject to adjustment based on facility availability, utilization and other matters.

In addition, the unused line fee was reduced by 25 basis points to 37.5 basis points per annum, subject to adjustment according to the average daily principal amount of unused commitments under the credit facility. The credit facility remains secured by TA’s accounts receivable, inventory and other assets (excluding real estate assets).

Andy Rebholz, TA’s CFO, made the following statement regarding today’s announcement, “TA’s successful amendment to the credit facility reduces our costs and extends its term, which further enhances our financial flexibility. We greatly appreciate the support we received from our lenders.”

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, stores and other services.