Legends Hospitality Holding Co. LLC is offering $350 million of five-year (non-call two) senior secured notes in connection with Sixth Street Partners agreeing to purchase a majority stake in the company, sources said. An investor call is scheduled for today at noon ET, with marketing efforts expected to conclude on Jan. 15. Bookrunners are Goldman Sachs (left), BofA Securities and Wells Fargo.

Legends Hospitality provides marketing services. The company works with professional sports, collegiate, attractions, entertainment, international and convention brand clients.

Proceeds from the notes offering, together with the proceeds from a share purchase transaction and borrowings under the company's revolving loan and pay-in-kind (PIK) facilities, will be used to refinance all existing debt of the company, pay transaction fees and expenses and fund cash to the balance sheet to provide future availability for working capital and general corporate purposes.

Legends Hospitality announced the investment agreement with Sixth Street today. Sixth Street will lead the Legends partnership group alongside co-founders YGE Holdings LLC, an affiliate of the New York Yankees, and Jones Concessions LP, an affiliate of the Dallas Cowboys. The transaction is expected to close in the first quarter of 2021.