Ryman Hospitality holders may convert 3.75% notes through December

By Ashley Montgomery

Kansas City, Kan., Oct. 1 - Ryman Hospitality Properties, Inc., formerly known as Gaylord Entertainment Co., announced that its $360 million of 3.75% convertible senior notes due Oct. 1, 2014 will remain convertible through Dec. 31, the last day of the current fiscal quarter, according to a news release.

The company said the notes are convertible because Ryman's common stock price exceeded 120% of the conversion price for at least 20 trading days during the 30 consecutive trading days ending Sept. 28.

The notes are convertible into common stock or cash at a rate of 36.6972 shares per $1,000 principal amounts of notes, which is a conversion price of $27.25 per share.

Ryman Hospitality is a hospitality and entertainment company based in Nashville.

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