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Ryman launches $295 million term loan B at SOFR plus 225-250 bps
By Sara Rosenberg
New York, April 1 – Ryman Hospitality Properties Inc. (RHP Hotel Properties LP) launched on Monday without a lender call a $295 million term loan B due May 18, 2030 that is talked at SOFR plus 225 basis points to 250 bps with a 0% floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Wells Fargo Securities LLC is the left lead arranger on the deal.
Commitments are due at noon ET on Friday, the source added.
Proceeds will be used to reprice an existing term loan down from SOFR plus 275 bps with a 0% floor.
Ryman is a Nashville-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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