Company: GLPI
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179509
Chunk: 27

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 27
---
4, to elect to re-allocate up to $700 million in existing revolving commitments under the Revolving Credit Agreement to a new
revolving credit facility.

On December 2, 2024, the Operating Partnership entered into a second amendment to the Revolving Credit Agreement.
Pursuant to the second amendment, the revolving commitments were increased from $1.750 billion to $2.09 billion and the maturity date of the revolving loans and commitments was extended to December 2, 2028. The second amendment also
provides the Operating Partnership the right to re-allocate up to $1.04 billion in existing revolving commitments under the Revolving Credit Agreement to one or more new revolving credit facilities (each,
a “Bridge Loan Facility”, and collectively, the “Bridge Revolving Facilities”). References below to the Revolving Credit Facility include the Bridge Revolving Facilities.

Loans under any Bridge Revolving Facility are subject to 1% amortization per annum. Amounts repaid under any Bridge Revolving Facility cannot be reborrowed
and the corresponding commitments are automatically re-allocated to the Revolving Credit Facility.

Bridge
Revolving Facilities are intended to be used solely to fund cash distributions to third-party contributors in connection with their contribution of one or more properties to the Operating Partnership. The Operating Partnership’s ability to
borrow under any Bridge Revolving Facility is subject to certain conditions, including pro forma compliance with the Operating Partnership’s financial covenants, as well as the receipt by the agent of a satisfactory conditional guarantee of the
loans under the applicable Bridge Revolving Facility by the applicable contributor or its affiliate, subject to the prior enforcement of all remedies against the Operating Partnership, GLPI and other applicable sources other than such guarantor.
Loans under the Bridge Revolving Facility will not be treated pro rata with loans under the Revolving Credit Facility.

At June 30, 2025,
$332.5 million was outstanding under the Revolving Credit Facility. Additionally, at June 30, 2025, the Company was contingently obligated under letters of credit issued pursuant to the Revolving Credit Facility with face amounts
aggregating approximately $0.4 million, resulting in $1,757.2 million of available borrowing capacity under the Revolving Credit Facility as of June 30, 2025.

The interest rates payable on the loans borrowed under the Revolving Credit Facility are, at the Operating Partnership’s option, equal to either a
SOFR-based rate or a base rate plus an