Moto announces the launch of £170 million Second Lien Notes offering
14 March 2011
NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA (OR TO U.S. PERSONS), AUSTRALIA, CANADA OR JAPAN, OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW
London, 8 March 2011: Moto Hospitality Limited ("Moto") announced today an offering of Second Lien Notes due 2017 in an aggregate principal amount of approximately £170 million. The net proceeds of the offering will be used to refinance its existing debt, close out a portion of hedging transactions and pay transaction costs.
Moto is the leading motorway service area ("MSA") operator in the United Kingdom based on number of locations and revenue. We operate a national network of 63 locations at 45 sites (some sites having one location for each motorway direction), including 48 locations at 33 MSA sites as well as a number of off-motorway locations, throughout England, Wales and Scotland.
For information about Moto, please contact:
Andy Leatham – 07908657154
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or country. The securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or an applicable exemption from registration requirements. No public offering of securities will be made in the United States. This press release is being issued pursuant to and in accordance with Rule 135e under the Securities Act. This press release may include projections and other “forward-looking” statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of Moto about further events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections. This communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication relates will only be available to and will only be engaged in with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
In connection with the offering of the securities, Deutsche Bank AG, London Branch (the “Stabilizing Manager”) (or persons acting on behalf of the Stabilizing Manager) may over-allot the securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. However, there is no assurance that the Stabilizing Manager (or persons acting on behalf of the Stabilizing Manager) will undertake stabilization action. Any stabilization action may begin on or after the date on which adequate public disclosure of the final price of the securities is made and, if begun, may be ended at any time, but it must end no later than 30 days after allotment of the securities.