{"id":4998,"date":"2021-04-06T10:50:04","date_gmt":"2021-04-06T14:50:04","guid":{"rendered":"http:\/\/brookwood.davisadbeta.com\/?p=4998"},"modified":"2021-04-07T10:56:34","modified_gmt":"2021-04-07T14:56:34","slug":"yesway-announces-refinancing-of-approximately-460-million-bank-credit-facility","status":"publish","type":"post","link":"https:\/\/brookwood.davisadbeta.com\/?p=4998","title":{"rendered":"Yesway Announces Refinancing of Approximately $460 Million Bank Credit Facility"},"content":{"rendered":"<p><strong>(Beverly, MA) \u2013 April 6, 2021<\/strong> \u2013Yesway, one of the largest and fastest growing convenience store chains in the United States, today announced that it has successfully completed the refinancing of its term loan and revolving credit facilities in the amount of $410 million and $125 million, respectively.  The new capital will be used to pay down its existing debt facilities and for general corporate purposes, including to finance its raze and rebuild strategy with respect to some of its existing stores.<\/p>\n<p>Prior to the allocation of the new facility, Yesway received upgrades to its corporate and credit facility ratings from both Moody\u2019s in connection with the transaction and S&#038;P in December 2020 to B2\/B+ and B1\/B+, respectively, reflecting, among other things, the company\u2019s solid operating performance in a challenging 2020.<\/p>\n<p>\u201cThe strategic refinancing of Yesway was another proactive step we have taken to better position the company for continued growth and profitability,\u201d stated Tom Trkla, Yesway\u2019s Chairman and Chief Executive Officer.   \u201cWe are extremely pleased with the strong interest and resulting favorable terms for these new debt facilities, which will significantly reduce our cost of capital and provide a tremendous amount of financial flexibility for the company going forward.\u201d<\/p>\n<p>JPMorgan Chase Bank, N.A. acted as the lead arranger and lead bookrunner for the facilities along with Morgan Stanley Senior Funding, Inc., Barclays Bank PLC, BMO Capital Markets Corp. and Goldman Sachs Bank USA.<\/p>\n<p>\u201cJP Morgan did a terrific job executing our refinancing,\u201d added Mr. Trkla.  \u201cWe are thrilled with the composition of the lender group that has elected to purchase the new debt and the confidence that they have placed in Yesway.\u201d<\/p>\n<p><strong><em>About Yesway <\/em><\/strong><em>\u2013 BW Gas &amp; Convenience Retail, LLC, d\/b\/a Yesway is headquartered in Fort Worth, Texas. Yesway is currently ranked #2 in year-over-year relative store growth on the Convenience Store News \u201c2020 Top 20 Growth Chains\u201d list, after being ranked #1 on the \u201c2019 Top 20 Growth Chains\u201d list, is ranked #17 on the \u201cCSP Top 202 Chains\u201d list by total portfolio size, was named a \u201c2017 Chain to Watch\u201d by Convenience Store Decisions, was awarded a Bronze for Loyalty &#038; Advocacy in the 2018 Loyalty360 Customer Experience Awards, and its CEO has been named a \u201cCSP 2020 Power 20 Deal Maker.\u201d Yesway\u2019s swiftly expanding portfolio currently consists of 402 stores located in Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma, and Nebraska, including most recently, the 304-store Allsup\u2019s Convenience Store chain.  <\/em><a href=\"http:\/\/www.yesway.com\">www.yesway.com<\/a>.<\/p>\n<p>Media Contact:<br \/>\nErin Vadala, Warner Communications<br \/>\n(978) 468-3076; <a href=\"mailto:erin@warnerpr.com\">erin@warnerpr.com<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Beverly, MA) \u2013 April 6, 2021 \u2013Yesway, one of the largest and fastest growing convenience store chains in the United States, today announced that it has successfully completed the refinancing of its term loan and revolving credit facilities in the amount of $410 million and $125 million, respectively. The new [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":4640,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":{"0":"post-4998","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yesway Announces Refinancing of Approximately $460 Million Bank Credit Facility - Brookwood Financial<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yesway Announces Refinancing of Approximately $460 Million Bank Credit Facility - Brookwood Financial\" \/>\n<meta property=\"og:description\" content=\"(Beverly, MA) \u2013 April 6, 2021 \u2013Yesway, one of the largest and fastest growing convenience store chains in the United States, today announced that it has successfully completed the refinancing of its term loan and revolving credit facilities in the amount of $410 million and $125 million, respectively. 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