Brief: Ryman Hospitality Properties Inc Announces Plans To Acquire Block 21 In Austin, Texas, From Stratus Properties Inc For $260 Million

Stratus Properties

27/10/2021 24:08

Oct 26 (Reuters) - Ryman Hospitality Properties Inc  RHP.N :
    * RYMAN HOSPITALITY PROPERTIES, INC. ANNOUNCES PLANS TO
ACQUIRE
BLOCK 21 IN AUSTIN, TEXAS, FROM STRATUS PROPERTIES INC. FOR $260
MILLION
    * RYMAN HOSPITALITY PROPERTIES - PURCHASE PRICE OF $260
MILLION,
INCLUDES ASSUMPTION OF ABOUT $138 MILLION OF EXISTING MORTGAGE
DEBT
    * RYMAN HOSPITALITY PROPERTIES - WILL RECEIVE ABOUT $11
MILLION OF
EXISTING CASH RESERVES ATTRIBUTABLE TO ASSETS
    * RYMAN HOSPITALITY - AMENDED CREDIT AGREEMENT WITH LENDERS
TO
ALLOW FOR ACQUISITION, USE OF BORROWINGS UNDER REVOLVING CREDIT
LINE TO FUND ACQUISITION
    * RYMAN HOSPITALITY - HAS CAPACITY TO FINANCE TRANSACTION
UNDER
ITS REVOLVING CREDIT FACILITY AND MAY USE CASH ON HAND

Source text for Eikon:  ID:nGNX7XfKSj 
Further company coverage:  RHP.N 

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