Ryman Hospitality to launch $400 million term loan B on Wednesday

By Sara Rosenberg

New York, May 22 - Ryman Hospitality Properties, Inc. (RHP Hotel Properties LP) is set to hold a bank meeting at 10 a.m. ET in New York on Wednesday to launch a $400 million covenant-light term loan B due January 2021, according to a market source.

Deutsche Bank Securities Inc., Wells Fargo Securities LLC, J.P. Morgan Securities LLC, Bank of America Merrill Lynch and U.S. Bank are the bookrunners on the deal.

The term loan has 101 soft call protection for six months, the source said.

Proceeds will be used to repay revolving credit facility borrowings and for general corporate purposes.

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

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