Ryman Hospitality announces proposed $800M senior notes offering

Ryman Hospitality Properties announced that its subsidiaries, RHP Hotel Properties, LP and RHP Finance Corporation, intend to offer, in a private placement, subject to market and other conditions, up to $800 million aggregate principal amount of senior notes due 2032. The Notes will be senior unsecured obligations of the Issuers and guaranteed by the Company and its subsidiaries that guarantee its existing credit facility, 4.750% senior unsecured notes due 2027, 7.250% senior unsecured notes due 2028 and 4.500% senior unsecured notes due 2029. The Operating Partnership intends to contribute the net proceeds of this offering to its subsidiaries that own the Gaylord Rockies Resort & Convention Center, and such subsidiaries intend to use such net proceeds, together with cash on hand, to prepay the indebtedness outstanding under the Second Amended and Restated Loan Agreement, dated as of July 2, 2019, with Wells Fargo Bank, National Association, as administrative agent, as amended from time to time, and to pay related fees and expenses. There can be no assurance that the offering of the notes will be consummated.