Ryman Hospitality Properties Enters Material Agreement
Ticker: RHP · Form: 8-K · Filed: Dec 19, 2024 · CIK: 1040829
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: RHP
TL;DR
Ryman Hospitality Properties just signed a big deal, watch their financials.
AI Summary
On December 19, 2024, Ryman Hospitality Properties, Inc. entered into a material definitive agreement. This filing also indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The filing includes financial statements and exhibits related to these events.
Why It Matters
This filing signals a significant new financial commitment or arrangement for Ryman Hospitality Properties, which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating new financial obligations can introduce financial risks and operational changes that warrant careful monitoring.
Key Players & Entities
- Ryman Hospitality Properties, Inc. (company) — Registrant
- December 19, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Ryman Hospitality Properties, Inc.?
The filing indicates the entry into a material definitive agreement but does not specify its nature in the provided text.
What type of financial obligation has Ryman Hospitality Properties, Inc. created?
The filing states the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specifics are not detailed in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on December 19, 2024.
What is the principal executive office address for Ryman Hospitality Properties, Inc.?
The principal executive offices are located at One Gaylord Drive, Nashville, Tennessee, 37214.
What is the SIC code for Ryman Hospitality Properties, Inc.?
The Standard Industrial Classification (SIC) code for Ryman Hospitality Properties, Inc. is 6798, which corresponds to Real Estate Investment Trusts.
Filing Stats: 766 words · 3 min read · ~3 pages · Grade level 11.8 · Accepted 2024-12-19 16:05:37
Key Financial Figures
- $293.5 million — he Incremental Agreement refinances the $293.5 million principal amount outstanding under the
- $500 million — l amount outstanding under the original $500 million term loan B (the "Term Loan B Facility"
Filing Documents
- ef20040400_8k.htm (8-K) — 34KB
- ef20040400_ex10-1.htm (EX-10.1) — 174KB
- 0001140361-24-049940.txt ( ) — 359KB
- rhp-20241219.xsd (EX-101.SCH) — 4KB
- rhp-20241219_lab.xml (EX-101.LAB) — 21KB
- rhp-20241219_pre.xml (EX-101.PRE) — 16KB
- ef20040400_8k_htm.xml (XML) — 4KB
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ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. On December 19, 2024, Ryman Hospitality Properties, Inc. (the "Company"), entered into a Second Incremental Tranche B Term Loan Agreement (the "Incremental Agreement"), which supplements that certain Credit Agreement dated as of May 18, 2023 (the "Credit Agreement"), by and among RHP Hotel Properties, LP, as the borrower thereunder, (in such capacity, the "Borrower"), the Company and certain subsidiaries of the Company, as guarantors, several lenders named therein (the "Lenders"), Wells Fargo Bank, National Association, as Administrative Agent (in such capacity, the "Administrative Agent"), the joint lead arrangers and the various other parties thereto. The Incremental Agreement refinances the $293.5 million principal amount outstanding under the original $500 million term loan B (the "Term Loan B Facility") and reduces the applicable interest rate margins for the loans advanced under the refinanced Term Loan B Facility. The applicable interest rate margins for the refinanced Term Loan B Facility under the Incremental Agreement are (i) 2.00% for SOFR Loans (as defined in the Credit Agreement) and (ii) 1.00% for base rate loans, which, in each such case, is 0.25% lower than the applicable interest rate margin existing prior to the effectiveness of the Incremental Agreement. Further, the Incremental Agreement provides for the applicable interest rate margins discussed above to be further reduced by an additional 0.25% upon the Company's meeting certain criteria as set forth in the Incremental Agreement. The Incremental Agreement did not change the maturity dates existing under the Credit Agreement or result in any increase in principal indebtedness by the Borrower. Certain lenders under the Credit Agreement and the Incremental Agreement or their affiliates have provided, and may in the future provide, certain commercial banking, financial advisory, and investment banking services in the ordinary course of bu
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ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT. The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits 10.1 Second Incremental Tranche B Term Loan Agreement. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RYMAN HOSPITALITY PROPERTIES, INC. Date: December 19 , 2024 By: /s/ Scott J. Lynn Name: Scott J. Lynn Title: Executive Vice President, General Counsel and Secretary 4