Ryman Hospitality redeems $54.74 million of its 3.75% convertibles

By Tali David

Minneapolis, July 2 - Ryman Hospitality Properties, Inc. repurchased $54,742,000 of its 3.75% convertible senior notes due 2014, according to a press release.

The company is processing the settlement of $1.2 million of the convertibles that were converted by a holder.

Following these transactions, $304,058,000 will remain outstanding.

The repurchases were made for aggregate consideration of $98,558,163, funded by draws under the company's revolving credit facility and cash on hand.

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

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