Ryman Hospitality, Tank Holding free to trade; MoneyGram, IMA Financial set talk

By Sara Rosenberg

New York, May 11 – Ryman Hospitality Properties Inc.’s (RHP Hotel Properties LP) term loan B made its way into the secondary market on Thursday, with levels quoted above its original issue discount, and Tank Holding Corp.’s strip of funded and delayed-draw term loans broke as well.

Ryman’s $500 million seven-year covenant-lite term loan B freed to trade on Thursday, with levels quoted at 99½ bid, par offered, according to a market source.

Pricing on the term loan is SOFR plus 275 bps with a 0% floor and it was sold at an original issue discount of 99.25. The debt has 101 soft call protection for six months.

During syndication, the term loan was upsized $375 million and the discount was tightened from 99.

Meanwhile, in the primary market, MoneyGram International Inc. and IMA Financial Group released price talk on their term loans in connection with their lender calls.

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