Ryman hospitality properties, inc. announces upsizing and pricing of $1.0 billion of senior notes due 2032

Nashville, tenn., march 21, 2024 (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 $1.0 billion aggregate principal amount of 6.500% senior notes due 2032 (the “notes”). the aggregate principal amount of the notes to be issued in the offering was increased to $1.0 billion from the previously announced $800.0 million. 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. subject to customary closing conditions, the issuers expect the private placement of the notes to close on march 28, 2024. the aggregate net proceeds from the sale of the notes are expected to be approximately $983 million, after deducting the initial purchasers' discounts and commissions and estimated offering expenses.
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