Gaylord Entertainment accepts early tenders for 85% of 8% notes

By Jennifer Chiou

New York, Oct. 7 - Gaylord Entertainment Co. said it accepted for purchase the $228 million principal amount, or 85%, of its $259.81 million of 8% senior notes due 2013 that was tendered by the early deadline of 5 p.m. ET on Oct. 6.

The tender offer and consent solicitation will expire at 11:59 p.m. ET on Oct. 21. They began on Sept. 22.

The company also said it has called the remaining notes at 102.667% for redemption on Nov. 15.

Gaylord will pay $1,027.92 per $1,000 principal amount of the notes in the tender offer, including a consent payment of $1.25 for notes tendered by the consent payment deadline.

The company also will pay accrued interest up to but excluding the payment date.

Gaylord said the offer is subject to a requisite consent condition and a financing condition.

The issuer is a Nashville hospitality and entertainment company.

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