Ryman talks $400 million term loan at Libor plus 225-250 bps at 99.75

By Paul A. Harris

Portland, Ore., April 11 – Ryman Hospitality Properties Inc. (RHP Hotel Properties LP) talked its $400 million seven-year covenant-light term loan B at Libor plus 225 basis points to 250 bps with no Libor floor at 99.75, according to a market source.

The loan comes with a six-month 101 soft call.

Commitments are due at 5 p.m. ET on April 18.

Deutsche Bank Securities Inc. and Wells Fargo Securities LLC are the bookrunners on the deal, with other bookrunners to be announced.

The company also plans on getting a new $200 million term loan A and an extended $700 million revolver, the source said.

Proceeds will be used to refinance an existing term loan B and to pay down a portion of an outstanding revolver balance.

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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