Gaming & Leisure to sell tap of 4% senior notes due 2031

By Rebecca Melvin

New York, Aug. 11 – GLP Capital, LP and GLP Financing II, Inc., subsidiaries of Gaming & Leisure Properties Inc., intend to sell a tap of their 4% senior notes due 2031, according to a 424B5 filing with the Securities and Exchange Commission.

J.P. Morgan Securities LLC, Citizens Capital Markets Inc., Barclays, Wells Fargo Securities LLC, Truist Securities Inc., Goldman Sachs & Co. LLC, Fifth Third Securities Inc., M&T Securities, Capital One Securities Inc., BofA Securities Inc., Credit Agricole CIB, KeyBanc Capital Markets Inc. and Mizuho Securities USA Inc. are bookrunners of the deal.

The proceeds of the offering will be used to partially repay amounts outstanding under the companies’ term loan A-1, which has a principal balance outstanding of $225 million and an interest rate of Libor plus 150 basis points as of July 31.

The companies priced $500 million of the original 4% notes on June 25.

The gaming-oriented real estate investment trust is based in Wyomissing, Pa.

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