Ryman Hospitality plans USD 700 million senior notes offering due 2035
RHP•Senior notes to help fund Grande Lakes acquisition
Ryman Hospitality Properties launched a private placement of USD 700 million senior notes due 2035.
Net proceeds are earmarked to fund part of the USD 1.38 billion Grande Lakes acquisition in Orlando, Florida.
The remaining purchase price is expected to be covered by a USD 596.7 million common stock offering, priced at USD 117 per share, plus cash on hand.
The notes will be redeemed at 100% of issue price if the acquisition fails to close, under a special mandatory redemption.
