Ryman Hospitality Properties, Inc. (RHP): debt financing — Ryman Hospitality refinances $700M revolver and $500M term loan B, extending maturities to 2027/2030

Ryman Hospitality Properties, Inc.

Revolver undrawn at closing; $500M Term Loan B proceeds used to repay existing $370M balance, remainder for general corporate purposes.
Mortgage collateral released from Gaylord Opryland, Palms, Texan, and National; replaced with equity pledges on Opryland and Texan, increasing unencumbered asset pool.
Revolver pricing: leverage-based grid of 140-200 bps over SOFR; Term Loan B pricing: 275 bps over SOFR.
Revolver maturity extended to 2027 (with up to one-year extension); Term Loan B maturity extended to 2030.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Ryman Hospitality Properties, Inc. incurred credit facility of $700 million revolving credit facility and $500 million term loan B facility with Wells Fargo Bank, National Association at Adjusted Term SOFR plus 2.75% maturing May 18, 2030.

Instrument: credit facility
Principal: $700 million revolving credit facility and $500 million term loan B facility
Counterparty: Wells Fargo Bank, National Association
Rate: Adjusted Term SOFR plus 2.75%
Maturity: May 18, 2030
Event: incurrence

Exact text from the filing

dated as of October 31, 2019 (as amended from time to time, the “Original Credit Agreement”) (collectively, the “Refinancing Transactions”). The Credit Agreement provides a $700 million revolving credit facility (the “Revolver”) and $500 million term loan B facility (the “Term Loan B Facility”), as well as an accordion feature that will allow Borrower to

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ryman Hospitality Properties, Inc. amended Revolving Credit Facility with Wells Fargo (effective 2023-05-18).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo
Effective: 2023-05-18

Exact text from the filing

the Company refinanced its existing $700 Million Revolving Credit Facility (“Revolver”), extending its maturity from 2024 to 2027

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ryman Hospitality Properties, Inc. amended Term Loan B with Wells Fargo (effective 2023-05-18).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo
Effective: 2023-05-18

Exact text from the filing

Successfully Completes Refinancing of $700 Million Credit Facility and $500 Million Term Loan B NASHVILLE, Tenn. (May 18, 2023) – Ryman Hospitality Properties, Inc. (NYSE: RHP), a leading lodging and hospitality real estate

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26 debt financings filed in the last 30 days. Browse all debt financings →

Ryman Hospitality Properties, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-062700

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