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Ryman Hospitality units close $500M private placement of senior notes

Two units of Ryman Hospitality Properties Inc. closed a $500 million private placement of 4.75% senior unsecured notes due 2027.

RHP Hotel Properties LP and RHP Finance Corp. expect to raise approximately $493 million in net proceeds from the offering.

The hotel real estate investment trust said a cash tender offer by the units for 5.00% senior unsecured notes due 2021 expired at 5 p.m. ET on Sept. 18, with the units accepting for purchase all $197.5 million of the notes that were validly tendered.

The units used part of the net proceeds from the notes offering to repurchase the 2021 notes.

Deutsche Bank Securities was dealer manager for the tender offer, while D.F. King & Co. Inc. was the tender and information agent.