Ryman Hospitality Properties (NYSE:RHP) said that its subsidiaries, RHP Hotel Properties and RHP Finance upsized and priced the private placement of $1B aggregate principal amount of 6.500% senior notes due 2032.
The aggregate principal amount of the notes to be issued in the offering was increased to $1B from the previously announced $800M.
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 aggregate net proceeds from the sale of the notes are expected to be ~$983M.
The issuers expect the private placement of the notes to close on March 28, 2024.