Ryman Hospitality Properties refinances loans, shares down 1.7%

By Bobby Samwell • Tuesday, July 02 02:13 • Permanent Link

As of June 28, 2024, OEG Borrower, LLC and OEG Finance, LLC, along with their financial institutions and administrative agent JPMorgan Chase Bank, have entered into a First Amendment to their Credit Agreement dated June 16, 2022. This amendment involves refinancing existing term loans and extending additional revolving credit facilities.

The amendment involves the introduction of 2024 Refinancing Term Loans in an aggregate principal amount of $300,000,000. The existing term loans are being refinanced into these new 2024 Refinancing Term Loans, and certain lenders are converting their outstanding existing term loans into these new loans.

Additionally, there is an extension of credit in the form of a Replacement Revolving Facility in order to refinance and replace the Initial Revolving Credit Commitment and Initial Revolving Loans. This involves the involvement of Amendment No. 1 Replacement and Incremental Revolving Lenders.

As a result of these changes, the Amended Credit Agreement has been modified to reflect the new terms and provisions related to the 2024 Refinancing Term Loans and the Replacement Revolving Facility.

This amendment showcases the ongoing financial activities and strategic decisions being made by OEG Borrower, LLC and OEG Finance, LLC to manage their credit facilities and optimize their financial structure. The market has reacted to these announcements by moving the company's shares -1.7% to a price of $98.18. If you want to know more, read the company's complete 8-K report here.

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