Ryman Hospitality redeems $56.34 million of its 3.75% convertibles

By Toni Weeks

San Luis Obispo, Calif., April 24 - Ryman Hospitality Properties, Inc. repurchased $56.34 million of its 3.75% convertible senior notes due 2014, according to an 8-K filing with the Securities and Exchange Commission.

The company is also processing the settlement of $15.3 million of the convertibles that were converted by holders.

Following these transactions, $232,423,000 will remain outstanding.

The repurchases totaled $120,201,013 and were funded with draws under the company's revolving credit facility and cash on hand.

Ryman Hospitality is a hospitality and entertainment company based in Nashville.

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