Reported Earlier, Ryman Hospitality Properties Prices Upsized Private Placement Of $1B 6.500% Senior Notes Due 2032
Portfolio Pulse from Benzinga Newsdesk
Ryman Hospitality Properties has upsized its private placement of senior notes to $1 billion, with a 6.500% interest rate due in 2032. Originally announced at $800 million, the offering has been increased and is expected to close on March 28, 2024. The net proceeds are anticipated to be around $983 million after expenses. These notes will be senior unsecured obligations, guaranteed by the company and its subsidiaries.
March 22, 2024 | 7:41 am
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Ryman Hospitality Properties has increased its senior notes offering to $1 billion, expected to close by March 28, 2024, with net proceeds of about $983 million.
The upsizing of the senior notes offering by Ryman Hospitality Properties indicates a strong market demand for the company's debt, which could be viewed positively by investors. The substantial net proceeds suggest that RHP has significant plans for capital use, potentially for growth, debt refinancing, or other corporate purposes. This move could signal confidence in the company's financial health and future prospects, likely leading to a positive short-term impact on its stock price.
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