Ryman Hospitality sells new notes for loan paydowns

Chicago, March 21 – Ryman Hospitality Properties, Inc. said that it would be using the proceeds of a $1 billion upsized issue of notes for loan paydowns, according to a press release.

Proceeds plus cash on hand will be used to prepay debt of subsidiary Gaylord Rockies Resort & Convention Center under the second amended and restated loan agreement dated July 2, 2019, with Wells Fargo Bank, NA, as administrative agent.

From the $200 million upsizing of the deal, the company will repay approximately that amount on its outstanding term loan B.

Ryman is a Nashville-based lodging and hospitality real estate investment trust.

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