Speedway Motorsports to price $200 million eight-year notes Thursday

By Paul A. Harris

Portland, Ore., Jan. 22 – Speedway Motorsports, Inc. plans to price a $200 million offering of eight-year senior notes (expected ratings Ba2/BB+) Thursday, according to a market source.

An investor call is scheduled to get underway at 11:30 a.m. ET Thursday morning.

BofA Merrill Lynch, J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A with registration rights offering.

The notes come with three years of call protection.

The Concord, N.C.-based motorsports facilities management services provider plans to use the proceeds, along with borrowings under its credit facility, to fund the redemption of its 6¾% senior notes due 2019.

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