Petro Stopping Centers, L.P. and Petro Financial Corporation Announce Sale of $25 Million of 9% Senior Secured Notes.EL PASO El Paso (ĕl pă`sō), city (1990 pop. 515,342), seat of El Paso co., extreme W Tex., on the Rio Grande opposite Juárez, Mex.; inc. 1873. , Texas -- Petro Stopping Centers, L.P. and Petro Financial Corporation (the "Issuers") announced today that they have entered into an agreement to sell $25 million aggregate principal amount of 9% senior secured notes in a private placement conducted pursuant to Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. under the Securities Act of 1933, as amended. The offering is an add-on to the outstanding 9% notes of the Issuers. The sale of the notes was priced at 100% of the face value of the notes. The sale of the notes is expected to close on July 26, 2005. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the offering will be used for the acquisition of the Bordentown, New Jersey
Bordentown is a city in Burlington County, New Jersey, United States. As of the United States 2000 Census, the city population was 3,969, and the city measured an area of 0.94 Square Miles (2.43 Sq KM). Petro Stopping Center. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, securities. The company placed the securities in a private placement transaction pursuant to Rule 144A under the Securities Act of 1933, as amended. The notes have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration or an applicable exemption from registration requirements. All statements contained in this press release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. under the federal securities laws. These forward-looking statements are not guarantees of future performance and inherently involve certain risks, uncertainties and assumptions that are difficult to predict. These statements are based on the Issuers' best estimates; actual outcomes and results may differ materially from what is expressed in, or implied by, such forward-looking statements. The Issuers assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. |
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