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Ryman Hospitality units plan up to $500M senior notes private placement

Two Ryman Hospitality Properties Inc. units plan a private placement offering of up to $500 million of senior notes due 2027.

RHP Hotel Properties LP and RHP Finance Corp. aim to use substantially all of the net offering proceeds to finance their cash tender offer for any and all of the $350 million of 5.00% senior notes due 2021 and to repay the amounts outstanding under the company's revolving credit facility, among other uses.

The tender offer price is set at $1,002.50 per $1,000 principal amount of the 2021 notes, plus applicable interests, and the tender offer is scheduled to expire at 5 p.m. ET on Sept. 18, unless extended or earlier terminated.

The real estate investment trust retained Deutsche Bank Securities to serve as the exclusive dealer manager for the tender offer, while D.F. King & Co. Inc. is the tender agent and information agent.