A pair of Ryman Hospitality Properties Inc. units priced an upsized tack-on offering of $200 million of 4.750% senior unsecured notes due 2027 at 101.250% of their aggregate principal amount plus applicable interest.
RHP Hotel Properties LP and RHP Finance Corp. initially planned to issue up to $100 million of the notes in the private placement.
The hotel real estate investment trust expects the offering to close Oct. 8 and generate approximately $199.5 million in net proceeds.
Substantially all of the net proceeds are expected to go toward the repayment of a portion of the amounts outstanding under the company's revolving credit facility, with any remaining proceeds to be used for general corporate purposes.
