Company: GLPI
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179509
Chunk: 28

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 28
---
 applicable margin, which ranges from 0.725% to 1.40% per annum for SOFR loans and 0.0% to 0.4% per annum for base rate loans, in each case, depending on the credit ratings assigned to the Revolving Credit
Facility. The current applicable margin is 1.05% for SOFR loans and 0.05% for base rate loans. Notwithstanding the foregoing, in no event will the base rate be less than 1.00%. In addition, the Operating Partnership will pay a facility fee on the
commitments under the

S-17

Revolving Credit Facility, regardless of usage, at a rate that ranges from 0.125% to 0.3% per annum, depending on the credit rating assigned to the Revolving Credit Facility from time to time.
The current facility fee rate is 0.25%. The Revolving Credit Facility is not subject to interim amortization except with respect to the Bridge Revolving Facility. The Operating Partnership is not required to repay any loans under the Revolving
Credit Facility prior to maturity except as set forth above with respect to the Bridge Revolving Facility. The Operating Partnership may prepay all or any portion of the loans under the Revolving Credit Facility prior to maturity without premium or
penalty, subject to reimbursement of any SOFR breakage costs of the lenders and may reborrow loans that it has repaid.

The Revolving Credit Facility
contains customary covenants that, among other things, restrict, subject to certain exceptions, the ability of GLPI and its subsidiaries to grant liens on their assets, incur indebtedness, sell assets, make investments, engage in acquisitions,
mergers or consolidations or pay certain dividends and make other restricted payments. The Revolving Credit Facility includes the following financial covenants, which are measured quarterly on a trailing four-quarter basis: a maximum total debt to
total asset value ratio, a maximum senior secured debt to total asset value ratio, a maximum ratio of certain recourse debt to unencumbered asset value and a minimum fixed charge coverage ratio. GLPI is permitted to pay dividends to its shareholders
as may be required in order to maintain REIT status, subject to the absence of payment or bankruptcy defaults. GLPI is also permitted to make other dividends and distributions subject to pro forma compliance with the financial covenants and the
absence of defaults. The Revolving Credit Facility also contains certain customary affirmative covenants and events of