05:16 AM EDT, 03/22/2024 (MT Newswires) -- Ryman Hospitality Properties ( RHP ) said late Thursday it has priced its upsized private placement of $1 billion of its 6.5% senior notes due 2032.

The offering, which is expected to close on March 28, was increased from its previously announced size of $800 million.

Net proceeds, which are estimated to be about $983 million, will be used to partly contribute to its Gaylord Rockies Resort and Convention Center subsidiary to pre-pay debt. The remaining proceeds, together with cash on hand, will be used to pay down debt.