Ryman Hospitality talks $500 million senior notes due 2027 to price at high 4% area

By Cristal Cody

Tupelo, Miss., Sept. 13 – Ryman Hospitality Properties, Inc. is offering up to $500 million of senior notes due 2027 (B1/BB-) with initial price talk in the high 4% area, a source said.

The notes will be issued in a Rule 144A and Regulation S transaction via subsidiaries RHP Hotel Properties, LP and RHP Finance Corp.

Deutsche Bank Securities Inc. is the bookrunner.

The notes are guaranteed by Ryman Hospitality and its subsidiaries that guarantee its existing senior secured credit facility, 5% senior notes due 2021 and 5% senior notes due 2023.

Proceeds will be used to fund a cash tender offer for all $350 million outstanding of the 2021 notes.

Nashville-based Ryman Hospitality is the owner and operator of hotels and media and entertainment assets, including the Grand Ole Opry and the Ryman Auditorium.

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