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

Rhea-AI Summary

Ryman Hospitality Properties (NYSE: RHP) refinanced and upsized its revolving credit facility from $700 million to $850 million, and extended maturity from May 2027 to January 2030 with an optional single 12-month or two 6-month extensions.

Pricing remains on a leverage-based grid of 140–200 bps over Term SOFR or Daily Simple SOFR, and the revolver was undrawn at closing. The amendment maintains largely similar terms and is led by Wells Fargo.

Positive

• Revolver capacity increased by ~21% (700M to 850M)
• Maturity extended to January 2030 with extension options
• Pricing unchanged at 140–200 bps over SOFR
• Revolver was undrawn at closing, preserving liquidity optionality

Negative

• Prior maturity moved out from May 2027, shifting near-term refinancing certainty
• Higher committed capacity could increase unused commitment fees versus prior facility

News Market Reaction – RHP

+1.26%

+1.26% Session close to close

In the Jan 29 session, RHP gained 1.26%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details a refinancing that upsized Ryman’s revolving credit facility from $700 mil...

Analysis

This announcement details a refinancing that upsized Ryman’s revolving credit facility from $700 million to $850 million, extended its maturity from May 2027 to January 2030, and kept pricing terms similar on a leverage‑based grid of 140–200 basis points over SOFR. The revolver was undrawn at closing, emphasizing available liquidity. In context of prior dividends, events, and earnings updates, this marks another step in balance‑sheet management and long‑term growth positioning for investors to monitor.

Key Figures

Revolver size (prior): $700 million Revolver size (new): $850 million Maturity (old): May 2027 +5 more

8 metrics

Revolver size (prior) $700 million Previous revolving credit facility capacity

Revolver size (new) $850 million Amended revolving credit facility capacity

Maturity (old) May 2027 Prior revolver maturity date

Maturity (new) January 2030 Extended revolver maturity date

Extension options up to 1 additional year Either one 12‑month or two 6‑month extensions

Pricing spread range 140–200 basis points Over Term SOFR or Daily Simple SOFR, leverage-based grid

Revolver drawn balance $0 Revolver was undrawn at closing

Market cap $6,026,969,719 Market capitalization before refinancing news

Historical Context

5 past events · Latest: Jan 22 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jan 22	Investor conferences	Neutral	-0.9%	Announced participation in two March 2026 institutional investor conferences.
Dec 10	Earnings call notice	Neutral	+1.9%	Set dates for Q4 2025 earnings release and conference call in Feb 2026.
Dec 04	Dividend declaration	Positive	-0.2%	Declared $1.20 per share Q4 cash dividend with Jan 15, 2026 payment date.
Nov 24	Opry centennial event	Positive	+2.2%	Announced star‑studded Grand Ole Opry 100th anniversary livestream shows.
Nov 03	Q3 2025 earnings	Neutral	+1.7%	Reported Q3 2025 revenue, net income and Adjusted EBITDAre with narrowed guidance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news (dividends, events, earnings) has seen mixed but generally modest price reactions, with both positive and negative moves under 3%.

Recent Company History

Over the last few months, Ryman issued a mix of operational and investor-related updates. A $1.20 fourth-quarter 2025 dividend (paid Jan 15, 2026) saw a slight negative move, while Grand Ole Opry’s Nov 28, 2025 100th anniversary event and Q3 2025 results (revenue $592.5M, Adjusted EBITDAre $173.1M) coincided with modest gains. Conference participation and the upcoming Q4 2025 earnings call have had small reactions, framing today’s refinancing as another balance-sheet focused milestone.

Key Terms

revolving credit facility, revolver, basis points, term sofr, +2 more

6 terms

revolving credit facility financial

"successfully refinanced its revolving credit facility, increasing the size"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

revolver financial

"The amended revolving credit facility (“Revolver”) maintained the same pricing"

A revolver is a revolving credit facility — a line of borrowing a company can draw, repay and draw again as needed, similar to a corporate credit card for short-term cash needs. It matters to investors because it provides liquidity and flexibility to cover expenses, smooth cash flow swings, or bridge financing gaps; the size, cost and covenants of the revolver affect a company’s interest costs, financial health and default risk.

basis points financial

"pricing grid ranging from 140 to 200 basis points over, at our election"

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

term sofr financial

"over, at our election, Term SOFR or Daily Simple SOFR. The revolver"

Term SOFR is a benchmark interest rate that reflects the cost of borrowing money over a specific period, based on actual transactions in the financial markets. It is used by lenders and borrowers to set the interest rates on loans and financial contracts, helping to ensure rates are fair and transparent. For investors, understanding term SOFR helps gauge borrowing costs and the overall direction of interest rates in the economy.

daily simple sofr financial

"over, at our election, Term SOFR or Daily Simple SOFR. The revolver"

Daily simple SOFR is a widely published short-term interest benchmark based on actual overnight secured borrowing costs in the U.S. Treasury repo market; the “daily simple” version means the single-day rate is applied directly to calculate interest for that day rather than being compounded over multiple days. Investors care because it sets the interest paid or earned on floating-rate loans, bonds and cash products, so small daily changes change cash flows, borrowing costs and valuations—think of it as the daily retail price that determines what you pay or receive for short-term money.

leverage-based pricing grid financial

"Pricing will continue to be determined by a leverage-based pricing grid"

A leverage-based pricing grid is a structured schedule that sets fees, interest rates or margins based on how much borrowed money (leverage) a customer uses; higher leverage typically triggers higher costs. Think of it like a taxi meter that charges more per mile the faster or farther you go — it links price to risk and size. Investors care because this grid directly affects borrowing costs, potential returns and the effective risk of leveraged positions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NASHVILLE, Tenn., Jan. 28, 2026 (GLOBE NEWSWIRE) -- Ryman Hospitality Properties, Inc. (NYSE: RHP), a leading lodging and hospitality real estate investment trust (“REIT”) that specializes in upscale convention center resorts and leading entertainment experiences, today successfully refinanced its revolving credit facility, increasing the size from $700 million to $850 million and extending the maturity from May 2027 to January 2030. The amended revolving credit facility (“Revolver”) maintained the same pricing, and other terms of the Agreement are largely similar to the Company’s previous credit facility agreement.

Mark Fioravanti, President and Chief Executive Officer of Ryman Hospitality Properties, commented, “We appreciate our bank group’s ongoing support in upsizing our revolver to reflect our Company’s significant growth. This refinancing strengthens our balance sheet through enhanced liquidity and extended maturity as we continue to execute our long-term growth strategy.”

Additional Transaction Details

Led by Wells Fargo, the Company refinanced its existing revolver, extending its maturity from 2027 to 2030, with the option to extend the maturity date for a maximum of one additional year through either (i) a single 12-month extension option or (ii) two individual 6-month extensions. The Company also increased the total capacity of the revolver from $700 million to $850 million, along with certain other modifications. Pricing will continue to be determined by a leverage-based pricing grid ranging from 140 to 200 basis points over, at our election, Term SOFR or Daily Simple SOFR. The revolver was undrawn at closing.

About Ryman Hospitality Properties, Inc.

Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company’s holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space. The Company also owns the JW Marriott Phoenix Desert Ridge Resort & Spa and JW Marriott San Antonio Hill Country Resort & Spa as well as two ancillary hotels adjacent to our Gaylord Hotels properties. The Company’s hotel portfolio is managed by Marriott International and includes a combined total of 12,364 rooms as well as more than 3 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. RHP also owns an approximate 70% controlling ownership interest in Opry Entertainment Group (“OEG”), which is composed of entities owning a growing collection of iconic and emerging country music brands, including the Grand Ole Opry; Ryman Auditorium; WSM 650 AM; Ole Red; Category 10; Nashville-area attractions; Block 21, a mixed-use entertainment, lodging, office and retail complex, including the W Austin Hotel and the ACL Live at the Moody Theater, located in downtown Austin, Texas; and a majority interest in Southern Entertainment, a leading festival and events business. RHP operates OEG as its Entertainment segment in a taxable REIT subsidiary, and its results are consolidated in the Company’s financial results.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements as to the Company’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including, but not limited to, risks associated with the future performance of the Company’s business, anticipated financial results for the Company during future periods, the Company’s ability to pay dividends, and the Board of Directors’ ability to alter the dividend policy at any time. Other factors that could cause actual results to differ from the Company’s beliefs and expectations are described in the filings made from time to time by the Company with the U.S. Securities and Exchange Commission (SEC) and include the risk factors and other risks and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and subsequent filings. Except as required by law, the Company does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.

Investor Relations Contacts:	Media Contact:
Mark Fioravanti, President and Chief Executive Officer (615) 316-6588 mfioravanti@rymanhp.com Jennifer Hutcheson, Chief Financial Officer (615) 316-6320 jhutcheson@rymanhp.com Sarah Martin, Vice President, Investor Relations (615) 316-6011 sarah.martin@rymanhp.com	Shannon Sullivan, Vice President, Corporate and Brand Communications (615) 316-6725 ssullivan@rymanhp.com

FAQ

What did RHP announce about its revolving credit facility on January 28, 2026?

RHP refinanced and upsized its revolver to $850 million, extending maturity to January 2030. According to the company, pricing and most terms remain largely similar and the revolver was undrawn at closing.

How does the new RHP revolver pricing work after the January 28, 2026 amendment?

Pricing remains on a leverage-based grid of 140–200 bps over SOFR. According to the company, borrowers may select Term SOFR or Daily Simple SOFR at their election under the amended agreement.

Does the RHP amended revolver include extension options and what are they?

Yes. The amendment includes an option for a single 12-month extension or two 6-month extensions. According to the company, these options permit extending maturity by up to one additional year beyond January 2030.

Who led RHP’s revolver refinancing and was the facility drawn at closing?

The refinancing was led by Wells Fargo, and the revolver was undrawn at closing. According to the company, the bank group supported upsizing capacity to reflect the company's growth.

What immediate liquidity impact does RHP’s $850 million revolver amendment have for shareholders?

The amendment increases committed liquidity capacity to $850 million and extends tenor to 2030. According to the company, this strengthens the balance sheet through enhanced liquidity and extended maturity.