Loan & DebtAug 11, 2026, 07:33 AM
Ryman Hospitality to offer $700M senior notes for acquisition
AI Summary
Ryman Hospitality Properties announced its intent to offer $700 million aggregate principal amount of senior notes due 2035 in a private placement. The proceeds from this offering will be used to fund a portion of the previously announced $1.38 billion acquisition of the JW Marriott Orlando Grande Lakes Resort and The Ritz-Carlton Orlando. The remaining acquisition cost will be covered by a recently priced 5.1 million share common stock offering and cash on hand. The notes offering is not contingent on the acquisition, but includes a special mandatory redemption if the acquisition is not completed.
Key Highlights
- Ryman Hospitality Properties intends to offer $700 million in senior notes due 2035.
- Notes are senior unsecured obligations, guaranteed by the Company and its subsidiaries.
- Proceeds will fund a portion of the $1.38 billion Grande Lakes Acquisition.
- Acquisition includes JW Marriott Orlando Grande Lakes and The Ritz-Carlton Orlando.
- Balance of acquisition funded by 5.1 million common stock offering at $117.00 per share.
- Common Stock Offering priced on August 10, 2026, expected to close August 12, 2026.
- Notes have a special mandatory redemption if the Grande Lakes Acquisition is not consummated.
Price Impact
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