RHP - Ryman Hospitality Properties announces $300M notes offering to fund property acquisition

2023-06-07 07:56:33 ET

• After prizing equity offering, Ryman Hospitality Properties ( NYSE: RHP ) subsidiaries, RHP Hotel Properties, LP and RHP Finance has intended to offer, in a private placement up to $300M aggregate principal amount of senior notes due 2028.
• The notes will be senior unsecured obligations and guaranteed by the Company and its subsidiaries that guarantee its existing credit facility, 4.750% senior unsecured notes due 2027 and 4.50% senior unsecured notes due 2029.
• The net proceeds of debt and equity offering along with cash on hand will be used to fund the ~$800M purchase price to acquire the JW Marriott San Antonio Hill Country Resort & Spa located in San Antonio, Texas from BREIT JWM San Antonio LP and BREIT JWM San Antonio TRS LLC
• The common stock offering is expected to close on June 9, 2023.
• Source: Press Release

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