debt
confidence high
sentiment positive
materiality 0.60
Ryman Hospitality refinances $293.5M term loan B, cuts interest margin by 0.25%
Ryman Hospitality Properties, Inc.
- Refinanced $293.5M outstanding under existing $500M Term Loan B; no increase in principal.
- Interest rate margins reduced by 0.25% to 2.00% (SOFR) and 1.00% (base rate).
- Further 0.25% margin reduction possible upon meeting credit rating upgrade criteria and S&P recovery rating of '1'.
- Maturity dates unchanged; all other Credit Agreement terms remain in effect.
- Existing Tranche B Term Lenders had option for cashless exchange of loans to new terms.