Ryman Hospitality issues USD 700 million senior notes due 2035
RHP•Senior notes priced to help fund Grande Lakes acquisition
Ryman Hospitality Properties priced USD 700 million of 6.25% Senior Notes due 2035.
Net proceeds are earmarked to fund part of the USD 1.38 billion Grande Lakes resort acquisition in Orlando, Florida.
The remaining purchase price is expected to be covered by the recent USD 686.2 million common-stock offering and cash on hand.
The notes are subject to special mandatory redemption at 100% of issue price if the Grande Lakes acquisition is not completed.
Interest will be payable on Feb. 15 and Aug. 15, with the first payment due Feb. 15, 2027. The notes mature on Feb. 15, 2035.
