Ryman Hospitality Properties Inc. subsidiaries RHP Hotel Properties LP and RHP Finance Corp. are planning a tack-on offering of up to $100 million of 4.750% unsecured senior notes due 2027 in a private placement.
The issuers' previously offered $500 million of 4.750% senior notes due 2027 and the additional 2027 notes will comprise a single class of securities.
Substantially all the net proceeds will be used to partially repay outstanding amounts under its revolving credit facility, with the remaining funds being allocated for general corporate purposes, the hotel real estate investment trust said.
The offer is subject to market and other conditions.
