Ryman Hospitality draws down $400 million portion of revolver

By Wendy Van Sickle

Columbus, Ohio, March 17 – Ryman Hospitality Properties Inc. (RHP Hotel Properties LP) drew $400 million of its existing $700 million revolving credit facility on Tuesday, according to a news release.

The measure was taken as a precaution to ensure funds are available to meet the company’s obligations for a sustained period of time.

When combined with the about $285 million of cash on hand, Ryman said it has about $685 million of cash and $300 million of remaining availability on its credit facility, the full amount of which is available for borrowing at any time, for total liquidity of $985 million.

Ryman is a Nashville-based real estate investment trust specializing in group-oriented, destination hotel assets in urban and resort markets.

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