Company: GLPI
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179509
Chunk: 31

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 31
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 unencumbered assets to unsecured debt. These covenants are subject to a number of important and significant limitations, qualifications and exceptions. S-19

We may redeem the existing senior unsecured notes of any series at any time, and from time to time, at a
redemption price of 100% of the principal amount of the existing senior unsecured notes redeemed, plus, in certain circumstances, a “make-whole” redemption premium described in the indenture governing the existing senior unsecured notes,
together with accrued and unpaid interest to, but not including, the redemption date. If GLPI experiences a change of control accompanied by a decline in the credit rating of certain series of the existing senior unsecured notes, we will be required
to give holders of the existing senior unsecured notes of such series the opportunity to sell their existing senior unsecured notes of such series at a price equal to 101% of the principal amount of the existing senior unsecured notes of such
series, together with accrued and unpaid interest to, but not including, the repurchase date. The terms of the notes offered hereby do not require us to make an offer to purchase such notes in connection with a change of control accompanied by a
decline in the credit rating of such notes. The existing senior unsecured notes also are subject to mandatory redemption requirements imposed by gaming laws and regulations.

S-20

DESCRIPTION OF NOTES General In this description, (1) the “Operating Partnership” refers only to GLP Capital, L.P., and not to any of its Subsidiaries, (2) “Capital Corp.” refers only to GLP Financing II, Inc., and not to any of its Subsidiaries, (3) “Issuers”, “we”, “us” and “our” refer only to the Operating Partnership and Capital Corp., (4) “Guarantor” refers only to Gaming and Leisure Properties, Inc. and not to any of its Subsidiaries and (5) “notes” collectively refers to $ aggregate principal amount of the Issuers’ % senior notes due 20 (the “20 notes”) and $ aggregate principal amount of the Issuers’ % senior notes due 20 (the “20 notes”). The notes will be issued in two series of debt securities, as described below, in each case under the indenture, dated as of October 30, 2013 (the “base indenture”), among the Issuers, the Guarantor and Computershare Trust