PENN Entertainment reduces interest margin on $978M term loan by 25 bps

PENN Entertainment, Inc.

Term SOFR margin cut from 2.75% to 2.50%; base rate margin cut from 1.75% to 1.50%.
0.10% credit spread adjustment on term B loans eliminated, effective Dec 4, 2024.
Non-consenting lenders replaced; JPMorgan Chase acts as replacement lender.
Maturity of term B facility remains unchanged.
Amendment expected to lower annual interest expense for ~$978M in outstanding term loans.

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