Company: GLPI
Filing Date: 2025-08-18
Form Type: 8-K
Source: 0001193125-25-182766
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Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-18
Form: 8-K
Item: Item 8.01
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Item 8.01.      Other Events.  

On August 13, 2025, GLP Capital, L. P. (the “ Operating Partnership”), a Pennsylvania limited partnership and the operating partnership of Gaming and Leisure Properties, Inc., a Pennsylvania corporation (the “ Company”), and GLP Financing II, Inc., a Delaware corporation and wholly-owned subsidiary of the Operating Partnership (together with the Operating Partnership, the “ Issuers”), as issuers, and the Company, as guarantor, entered into an underwriting agreement (the “ Underwriting Agreement”) with Wells Fargo Securities, LLC, Citizens JMP Securities, LLC, Fifth Third Securities, Inc. and Truist Securities, Inc., as representatives of the several underwriters named therein (collectively, the “ Underwriters”), pursuant to which the Issuers agreed to issue and sell to the Underwriters $600.0 million aggregate principal amount of the Issuers’ 5.250% Senior Notes due 2033 (the “2033 Notes”) and $700.0 million aggregate principal amount of the Issuers’ 5.750% Senior Notes due 2037 (the “2037 Notes” and, together with the 2033 Notes, the “ Notes”). The 2033 Notes priced at 99.642% of par value, with a coupon of 5.250% and will mature on February 15, 2033. The 2037 Notes priced at 99.187% of par value, with a coupon of 5.750% and will mature on November 1, 2037. The Notes will be fully and unconditionally guaranteed on an unsecured basis by the Company.

The offering of the Notes is expected to close on or about August 27, 2025, subject to customary closing conditions, with net proceeds to the Issuers expected to be approximately $1.28 billion, after deducting underwriting discounts and commissions and estimated expenses payable by the Issuers. The Issuers intend to use the net proceeds from the offering to fund the redemption in full of their $975.0 million 5.375% senior unsecured notes due April 15, 2026 at a redemption price equal to par, plus accrued and unpaid interest to, but not including, the date of redemption, plus a make-whole premium, and any related fees and expenses. The Issuers intend to use the remaining proceeds for working capital and general corporate purposes, which may include funding development and expansion projects at existing and