Ryman Hospitality closes $700M notes offering for Orlando acquisition

Ryman Hospitality Properties (NYSE: RHP) announced that its subsidiaries, RHP Hotel Properties, LP and RHP Finance Corporation, closed a private placement of $700 million in aggregate principal of 6.250% senior notes due 2035.

The notes are senior unsecured obligations, guaranteed by the company and subsidiaries that guarantee the operating partnership's existing credit facility and outstanding senior unsecured notes. Net proceeds are expected to total approximately $689 million after deducting discounts, commissions, and estimated offering expenses.

The company intends to use the proceeds to fund a portion of the approximately $1.38 billion purchase price for the pending acquisition of the JW Marriott Orlando Grande Lakes Resort and The Ritz-Carlton Orlando, Grande Lakes in Orlando, Florida. The remaining balance will be funded through proceeds from a previously closed public offering of 5,865,000 shares of common stock at $117.00 per share, which closed Aug. 12, 2026, and cash on hand.

If the Orlando acquisition is not completed, the notes will be redeemed at 100% of the issue price, plus any accrued and unpaid interest, through a special mandatory redemption.

The notes were sold to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to certain non-U.S. persons under Regulation S. The notes were not registered under the Securities Act.

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