Company: GLPI
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179509
Chunk: 29

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 29
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 default, including the occurrence of a change of control and termination of the PENN Master Lease (subject to certain replacement
rights). The occurrence and continuance of an event of default under the Revolving Credit Facility will enable the lenders under the Revolving Credit Facility to accelerate the loans and terminate the commitments thereunder. At June 30, 2025,
the Company was in compliance with all required financial covenants under the Revolving Credit Facility.

Term Loan Credit Agreement

On September 2, 2022, the Operating Partnership entered into the Term Loan Credit Agreement providing for a Term Loan Credit Facility in the
amount of $600.0 million maturing in September 2027. The Term Loan Credit Facility is guaranteed by GLPI. At June 30, 2025, the Term Loan Facility was fully drawn.

Subject to customary conditions, including pro forma compliance with financial covenants, the Operating Partnership can obtain additional term loan
commitments and incur incremental term loans under the Term Loan Credit Agreement, so long as the aggregate principal amount of all term loans outstanding under the Term Loan Credit Facility does not exceed $1.2 billion plus up to
$60 million of transaction fees and costs incurred in connection with specified acquisitions under the Term Loan Credit Agreement (see above). There is currently no commitment in respect of such incremental loans and commitments.

The interest rates per annum applicable to loans under the Term Loan Credit Facility are, at the Operating Partnership’s option, equal to either a
SOFR-based rate or a base rate plus an applicable margin, which ranges from 0.85% to 1.7% per annum for SOFR loans and 0.0% to 0.7% per annum for base rate loans, in each case, depending on the credit ratings assigned to the Term Loan Credit
Facility. The current applicable margin is 1.30% for SOFR loans and 0.30% for base rate loans. The weighted average interest rate under the Term Loan Credit Facility at June 30, 2025 was 5.62%. In addition, the Operating Partnership will pay a
commitment fee on the unused commitments under the Term Loan Credit Facility at a rate that ranges from 0.125% to 0.3% per annum, depending on the credit ratings assigned to the Credit Facility from time to time. The current commitment fee rate is
0.25%.

The Term Loan Credit Facility is not subject to interim amortization. The Operating Partnership is not required to