debt
confidence high
sentiment neutral
materiality 0.50
Gaming & Leisure Properties, Inc. (GLPI): debt financing — GLPI closes $800M 5.625% senior notes due 2036; proceeds repay term loan
Gaming & Leisure Properties, Inc.
- Issued $800M 5.625% senior notes due March 1, 2036; net proceeds ~$791.1M after discounts and expenses.
- Notes are senior unsecured obligations of GLP Capital, L.P. and GLP Financing II, guaranteed by GLPI.
- Net proceeds used to repay borrowings under operating partnership's term loan credit facility; remainder for general corporate purposes.
- Notes redeemable at GLPI's option prior to Par Call Date at Treasury rate plus 25 bps; after at par.