---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-125366"
form_type: "8-K"
ticker: "PENN"
cik: "0000921738"
company_name: "PENN Entertainment, Inc."
filed_at: "2024-12-04T23:59:59+00:00"
generated_at: "2026-05-29T09:14:38.161452+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-125366
- form_type: 8-K
- ticker: PENN
- cik: 0000921738
- company_name: PENN Entertainment, Inc.
- filed_at: 2024-12-04T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/921738/000110465924125366/0001104659-24-125366-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921738/000110465924125366/tm2427890d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-125366
- JSON: https://secwatch.observer/filing/0001104659-24-125366.json
- Plain text: https://secwatch.observer/filing/0001104659-24-125366.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.