Ryman Hospitality Properties, Inc.’s 3.75% Senior Notes Remain Convertible
July 01 2013 - 8:30AM
Business Wire
Ryman Hospitality Properties, Inc. (NYSE: RHP) (the “Company”)
announced today that its 3.75% Convertible Senior Notes due October
1, 2014 remain convertible at the option of the holders through
September 30, 2013, the last business day of the current fiscal
quarter. The Company issued the notes in September 2009.
The notes remain convertible because the last reported sale
price of the Company’s common stock for at least 20 trading days
during the 30 consecutive trading-day period ending on June 28,
2013, was greater than 120 percent of the conversion price in
effect on such day.
The Company will deliver shares of its common stock or pay cash
upon conversion of any notes surrendered through September 30,
2013. If shares are delivered, cash will be paid in lieu of
fractional shares only. The notes are currently convertible at a
rate of 45.5431 shares of common stock per $1,000 principal amount
of notes, which is equal to a conversion price of $21.96 per
share.
The notes could be convertible after September 30, 2013, if the
sale price condition described above is met in any future fiscal
quarter or if any of the other conditions to conversion set forth
in the indenture governing the notes are met.
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. For additional information about Ryman
Hospitality Properties, visit www.rymanhp.com.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains “forward-looking statements”
concerning the Company’s expectations, future results and
underlying assumptions, and other statements that are not
necessarily based on historical facts. Examples of these statements
include, but are not limited to, the form and timing of payments of
the Company in connection with notes surrendered and other
statements concerning the convertibility of the notes in the
future. Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from the statements made. These include the risks and uncertainties
described in the filings made from time to time by the Company with
the U.S. Securities and Exchange Commission, including the risk
factors described in the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2012 and its Quarterly Reports
on Form 10-Q. 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.
Investor Relations:Ryman Hospitality Properties, Inc.Mark
Fioravanti, 615-316-6588Executive Vice President and Chief
Financial Officermfioravanti@rymanhp.comorTodd Siefert,
615-316-6344Vice President of Corporate Finance &
Treasurertsiefert@rymanhp.comorMedia:Brian
Abrahamson, 615-316-6302Vice President of Corporate
Communicationsbabrahamson@rymanhp.comorSloane & CompanyJosh
Hochberg, 212-446-1892jhochberg@sloanepr.comorDan Zacchei,
212-446-1882dzacchei@sloanepr.com
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