Gaming and Leisure Properties Announces Pricing of $500,000,000 of 4.000% Senior Notes Due 2031

About this update from Gaming And Leisure Properties, Inc.

[{"type":"text","content":"WYOMISSING, Pa., June 17, 2020 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (“GLPI”) (NASDAQ: GLPI) today announced the pricing of a public offering of $500.0 million aggregate principal amount of 4.000% Senior Notes Due 2031 (the “Notes”), to be issued by its operating partnership, GLP Capital, L.P. (the “Operating Partnership”), and GLP Financing II, Inc., a wholly owned subsidiary of the Operating Partnership (together with the Operating Partnership, the “Issuers”). The Notes priced at 98.827%. The Notes will be senior unsecured obligations of the Issuers, guaranteed by GLPI.\n The net proceeds from the offering, after deducting underwriting discounts and commissions and estimated expenses, are expected to be approximately $488.8 million. The Issuers intend to use a portion of the net proceeds to reduce borrowings under the revolving credit facility of the Operating Partnership, and any remaining net proceeds for working capital and general corporate purposes, including the payment of fees and expenses associated with a contemplated amendment to the credit facility of the Operating Partnership, as disclosed in the preliminary prospectus supplement for the offering. The offering is expected to close on June 25, 2020, subject to certain closing conditions. The offering will be made under an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus and prospectus supplement. The preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available by visiting the EDGAR database on the SEC’s website at www.sec.gov. J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Fifth Third Securities, Inc., BofA Securities, Inc., Citizens Capital Markets, Inc., SunTrust Robinson Humphrey, Inc., M&T Securities, Inc., Credit Agricole Securities (USA) Inc., Barclays Capital Inc., Goldman Sachs & Co. LLC, Capital One Securities, Inc., KeyBanc Capital Markets Inc. and Mizuho Securities USA LLC are serving as joint book-running managers for the offering. A copy of the preliminary prospectus supplement, final prospectus supplement (when available) and the accompanying prospectus relating to the offering of the Notes may be obtained by contacting: J.P. Morgan Securities LLC, collect at 1-212-834...

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