Gaylord private offering brings in $316.2 million
Gaylord Entertainment private offering brings in $316.2 million in proceeds
- On 2:28 pm EDT, Tuesday September 29, 2009
NASHVILLE, Tenn. (AP) -- Hotel and leisure company Gaylord Entertainment Co. said Tuesday it closed a private offering of $360 million in senior notes due 2014.
That includes the over-allotment option to buy $60 million in additional notes.
Proceeds were around $316.2 million, after deducting the initial purchasers' discounts and commissions and estimated expenses.
The notes will bear interest at an annual rate of 3.75 percent, payable on April 1 and Oct. 1 of each year, starting on April 1.
In afternoon trading, shares of the company, which operates the country music center Grand Ole Opry, rose 46 cents to $21.08.
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