Gaming and Leisure Properties, Inc. (GLPI) closed an $800.0 million offering of 5.625% senior notes due 2036 on March 4, 2026, co-issued by GLP Capital, L.P. and GLP Financing II, Inc., guaranteed by GLPI. Net proceeds of approximately $791.1 million were used to repay term loan borrowings, with remaining proceeds for working capital and general corporate purposes.
Key takeaways
Closed $800.0 million 5.625% senior notes due March 1, 2036 on March 4, 2026
Notes issued under Indenture dated October 30, 2013, supplemented by Seventeenth Supplemental Indenture dated March 4, 2026
Interest payable semi-annually on March 1 and September 1, starting September 1, 2026
Net proceeds ~$791.1 million after discounts and expenses
Proceeds used to repay Operating Partnership’s term loan credit facility borrowings
Guaranteed by GLPI on senior unsecured basis, pari passu with other senior indebtedness