Ryman Hospitality to launch $375 million term loan B on Thursday

By Sara Rosenberg

New York, May 3 – Ryman Hospitality Properties Inc. (RHP Hotel Properties LP) is scheduled to hold a lender call at 2 p.m. ET on Thursday to launch a $375 million seven-year covenant-lite term loan B, according to a market source.

Wells Fargo Securities LLC, BofA Securities Inc., Deutsche Bank Securities Inc., JPMorgan Chase Bank and US Bank are the lead arrangers on the deal.

The term loan has no call protection and amortization of 1% per annum, the source said.

Security is equity pledges on two borrowing base assets, Gaylord Opryland and Gaylord Texan.

Commitments are due at noon ET on May 10, the source added.

Proceeds will be used to refinance an existing term loan B.

Ryman is a Nashville, Tenn.-based real estate investment trust that owns and operates a portfolio of large, group-oriented hotels in urban and resort markets.

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