Ryman says 3.75% notes due 2014 remain convertible through year-end

By Susanna Moon

Chicago, Oct. 1 - Ryman Hospitality Properties, Inc. said its $304.1 million of outstanding 3.75% convertible senior notes due Oct. 1, 2014 remain convertible through Dec. 31.

The notes remain convertible because the last reported sale price of the company's common stock was more than 120% of the conversion price for at least 20 trading days during the 30 consecutive trading days ending Sept. 30, according to a company press release.

The notes are convertible at a rate of 46.2165 shares per $1,000 principal amount of notes, which is equal to a conversion price of $21.64 per share.

Ryman's stock (NYSE: RHP) closed at $34.51 on Sept. 30.

The company issued the notes in September 2009.

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

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