Ryman hospitality properties, inc. announces upsizing and pricing of $600 million of senior notes due 2029

Nashville, tenn., feb. 09, 2021 (globe newswire) -- ryman hospitality properties, inc. (nyse: rhp) (the “company”) announced today that its subsidiaries, rhp hotel properties, lp (the “operating partnership”) and rhp finance corporation (together with the operating partnership, the “issuers”), successfully upsized and priced the private placement of $600 million aggregate principal amount of 4.500% senior notes due 2029 (the “notes”). the aggregate principal amount of the notes to be issued in the offering was increased to $600 million from the previously announced $400 million. the notes will be senior unsecured obligations of the issuers and guaranteed by the company and its subsidiaries that guarantee its existing senior secured credit facility, 5.00% senior unsecured notes due 2023 (the “2023 notes”) and 4.750% senior unsecured notes due 2027. subject to customary closing conditions, the issuers expect the private placement of the notes to close on february 17, 2021. the aggregate net proceeds from the sale of the notes are expected to be approximately $591 million, after deducting the initial purchasers' discounts and commissions and estimated offering expenses.
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