debt
confidence high
sentiment neutral
materiality 0.70
Ryman Hospitality upsizes note offering to $400M at 7.250% due 2028 for Hill Country acquisition
Ryman Hospitality Properties, Inc.
- Upsized private placement of $400M senior notes at 7.250% due 2028; originally $300M.
- Net proceeds ~$393M after discounts and expenses, to fund $800M purchase of JW Marriott San Antonio Hill Country Resort & Spa.
- Notes expected to close June 22, 2023; proceeds held in escrow pending acquisition completion.
- Separate common stock offering of 3.85M shares at $93.25 announced June 6; neither offering contingent on the other.
- Special mandatory redemption at 100% if Hill Country Acquisition not consummated.