We represented Ryman Hospitality Properties, Inc. (NYSE: RHP) in various refinancing transactions in September and October 2019, which successfully refinanced almost $2 billion in indebtedness. Refinancing transactions for Ryman included:
- The private placement of $500 million aggregate principal amount of 4.750% senior notes due 2027.
- A tack-on private placement of an additional $200 million aggregate principal amount of 4.750% senior notes due 2027.
- A tender offer for Ryman’s outstanding $350 million 5.00% senior notes due 2021 and a redemption of such notes not tendered.
- The extension of the maturity dates of Ryman’s existing $700 million revolving credit and $200 million term loan A to March 31, 2024, and March 31, 2025, respectively, the increase of the $200 million term loan A to $300 million, and the increase of the accordion feature under Ryman’s credit agreement from $500 million to $600 million.