La Quinta $250 million eight-year deal starts roadshow Friday

By Paul A. Harris

St. Louis, March 6 - The roadshow starts Friday for La Quinta Properties, Inc.'s offering of $250 million senior notes due 2011 (expected ratings Ba3/BB-), according to a syndicate source.

The roadshow is expected to wrap up on Friday, March 14, the source added.

Lehman Brothers is the bookrunner. The co-managers are CIBC World Markets, JP Morgan and Fleet Securities.

The Rule 144A notes are non-callalble for four years.

Proceeds will be used to fund the company's tender for its existing notes and to repay credit facility borrowings.

The issuer is a Dallas-based lodging company.

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