Ryman Hospitality Properties, Inc. Successfully Completes Refinancing of $700 Million Revolving Credit Facility and Increases Size to $850 Million

Core Viewpoint - Ryman Hospitality Properties, Inc. has successfully refinanced its revolving credit facility, increasing its size from $700 million to $850 million and extending the maturity from May 2027 to January 2030, which enhances the company's liquidity and supports its long-term growth strategy [1][2]. Company Overview - Ryman Hospitality Properties, Inc. is a leading lodging and hospitality real estate investment trust (REIT) specializing in upscale convention center resorts and entertainment experiences [3]. - The company's portfolio includes five of the top seven largest non-gaming convention center hotels in the U.S., with a total of 12,364 rooms and over 3 million square feet of meeting space [3]. - Ryman also holds a 70% controlling interest in Opry Entertainment Group, which includes iconic country music brands and various entertainment venues [3]. Transaction Details - The refinancing was led by Wells Fargo, maintaining similar pricing terms and allowing for a maximum one-year extension option [2]. - The pricing for the revolver will be determined by a leverage-based pricing grid ranging from 140 to 200 basis points over Term SOFR or Daily Simple SOFR [2]. - The revolver was undrawn at the time of closing, indicating a strong liquidity position for the company [2].