Ryman Hospitality Boosts Revolving Credit Facility to $850M, Extends Maturity to 2030
Event summary
- Ryman Hospitality Properties refinanced and upsized its revolving credit facility from $700M to $850M.
- Maturity extended from May 2027 to January 2030 with optional one-year extension.
- Facility remains undrawn at closing, pricing unchanged at 140-200 basis points over SOFR.
- Led by Wells Fargo, the refinancing maintains similar terms to previous credit facility.
The big picture
Ryman's refinancing move reflects broader trends in hospitality REITs strengthening balance sheets amid post-pandemic recovery. The upsizing and extension provide operational flexibility while maintaining favorable pricing terms. This positions Ryman to better navigate potential economic volatility while pursuing its long-term growth strategy in upscale convention center resorts and entertainment experiences.
What we're watching
- Liquidity Strategy
- How Ryman will deploy the additional $150M in available credit amid its growth plans.
- Debt Management
- Whether the extended maturity timeline reduces near-term refinancing risks.
- Market Conditions
- The pace at which hospitality REITs continue to optimize their capital structures in 2026.