Company: GLPI
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001193125-25-181872
Chunk: 31

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-15
Form: 424B5
Chunk 31
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 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 repay any loans under the Term
Loan Credit Facility prior to maturity. The Operating Partnership may prepay all or any portion of the loans under the Term Loan 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.

S-18

The Term Loan Credit Facility contains customary covenants that, among other things, restrict, subject to certain exceptions, the ability of GLPI and its subsidiaries, including the Operating Partnership, to grant liens on their assets, incur indebtedness, sell assets, engage in acquisitions, mergers or consolidations, or pay certain dividends and make other restricted payments. The financial c