Ryman Hospitality Properties, Inc. Announces Closing of Common Stock Offering and Full Exercise of Underwriters’ Over-Allotment Option
Ryman Hospitality Properties closed its public offering of 5,865,000 shares of common stock at $117.00 per share, generating approximately $658 million in net proceeds. The proceeds, along with a $700 million private placement of 6.250% senior notes due 2035, will fund the $1.38 billion acquisition of the JW Marriott Orlando Grande Lakes Resort and The Ritz-Carlton Orlando, Grande Lakes.
Key figures
- Offering Price
- 117
- Shares Offered
- 5865000
- Note coupon
- 6.250%
- Note maturity
- 2035
- Net proceeds offering
- $658 million
- Acquisition purchase price
- $1.38 billion
- Private placement principal
- $700 million
AI analysis
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