debt
confidence high
sentiment neutral
materiality 0.75
RHP issues $625M of 6.500% Senior Notes due 2033 to fund Desert Ridge acquisition
Ryman Hospitality Properties, Inc.
- Issued $625M aggregate principal amount of 6.500% Senior Notes due June 15, 2033; interest payable semi-annually starting Dec 15, 2025.
- Net proceeds to fund portion of ~$865M purchase price for JW Marriott Phoenix Desert Ridge Resort & Spa.
- Balance of acquisition funded by prior common stock offering of 2,990,000 shares at $96.20 per share.
- Notes subject to special mandatory redemption at 100% if Desert Ridge Acquisition not consummated.
- Notes rank equally with existing unsecured notes; covenant restrictions apply.
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