La Quinta Properties to sell $200 million eight-year notes Thursday

By Paul A. Harris

St. Louis, Aug. 4 - La Quinta Properties Inc. will hold an investor conference call Thursday morning for its offering of $200 million of eight-year senior notes, according to a syndicate source.

Pricing is expected to take place Thursday afternoon.

Lehman Brothers and Banc of America Securities LLC are joint bookrunners for the Rule 144A/Regulation S offering. CIBC World Markets, Wells Fargo Capital, Credit Lyonnais and Morgan Stanley are co-managers.

The notes will come with four years of call protection.

Proceeds, together with cash on hand, will be used to fund La Quinta's previously announced, proposed acquisition of substantially all of The Marcus Corp.'s limited-service lodging division.

The company is a Dallas-based real estate investment trust.

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