Ryman Hospitality Properties, Inc. Announces Proposed $300 Million Senior Notes Offering
March 25 2013 - 4:20PM
Business Wire
Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”)
announced today that certain of its subsidiaries intend to offer,
in a private placement, up to $300 million aggregate principal
amount of senior notes due 2021 (the “notes”). The notes will be
unsecured senior obligations of the issuing subsidiaries and
guaranteed by the Company and its subsidiaries that guarantee its
$925 million senior secured credit facility. The Company intends to
use the net proceeds from the offering to repay a portion of its
outstanding borrowings under the revolver to its credit facility.
There can be no assurance that the offering of the notes will be
consummated.
The notes will be offered in the United States to qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”), and outside the United
States pursuant to Regulation S under the Securities Act. The notes
have not been registered under the Securities Act and will not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any securities, nor shall there be
any offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About Ryman Hospitality Properties,
Inc.
Ryman Hospitality Properties, Inc. (NYSE: RHP), is a real estate
investment trust for federal income tax purposes, specializing in
group-oriented, destination hotel assets in urban and resort
markets. The Company’s owned assets include a network of four
upscale, meetings-focused resorts totaling 7,795 rooms that are
managed by world-class lodging operator Marriott International,
Inc. under the Gaylord Hotels brand. Other owned assets managed by
Marriott International, Inc. include Gaylord Springs Golf Links,
the Wildhorse Saloon, the General Jackson Showboat and the Inn at
Opryland, a 303-room overflow hotel adjacent to Gaylord Opryland.
The Company also owns and operates a number of media and
entertainment assets, including the Grand Ole Opry (opry.com), the
legendary weekly showcase of country music’s finest performers for
nearly 90 years; the Ryman Auditorium, the storied former home of
the Grand Ole Opry located in downtown Nashville; and WSM-AM, the
Opry’s radio home.
This press release contains “forward-looking statements”
concerning the intention of certain of the Company’s subsidiaries
to issue the notes, the Company’s expectation of the aggregate
principal amount of notes to be sold and the Company’s intended use
of proceeds of the offering. These forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from the statements made. Important factors
that could cause actual results to differ are described in the
filings made from time to time by the Company with the U.S.
Securities and Exchange Commission and include the risk factors
described in the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2012. The Company does not undertake
any obligation to release publicly any revisions to forward-looking
statements made by it to reflect events or circumstances occurring
after the date hereof or the occurrence of unanticipated
events.
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