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Ryman Hospitality Properties extends revolving credit facility
Ryman Hospitality Properties, a lodging and hospitality REIT that specializes in upscale convention center resorts and entertainment experiences, has completed a series of refinancing transactions that extends maturities of the $700 million revolving credit facility and $500 million term loan B.
Led by Wells Fargo, the REIT extended the revolving credit facility’s maturity from 2024 to 2027, with the option to extend the maturity date for a maximum of one additional year.
The company also refinanced its term loan B, which had an outstanding balance of $370 million, to a new $500 million term. The maturity of the Term Loan B also was extended from 2024 to 2030.
“We are pleased to take advantage of current capital market conditions to refinance our credit facility and bolster an already solid balance sheet, with terms that provide us additional flexibility through the release of mortgage collateral,” said Mark Fioravanti, president and CEO of Ryman Hospitali