Gaming and Leisure Properties, Inc.

Overview

Deal Type Debt Capital Markets
Size $600 Million
Delayed Draw Term Loan
$700 Million
Bridge Revolver
Our Role Joint Lead Arranger
Joint Bookrunner

Summary

On September 2, 2022, KeyBanc Capital Markets (KBCM) successfully closed on the syndication of a $600 million Delayed Draw Term Loan and an amendment of the existing Revolver to accommodate a new $700 million Bridge Revolver tranche for Gaming and Leisure Properties, Inc. (GLPI or the Company). The pro forma Credit Facilities consist of a $1,050 million Revolver, a $700 million Bridge Revolver and a $600 million Delayed Draw Term Loan. Proceeds from the Credit Facilities will be used to acquire certain assets of Bally’s Corporation, among other uses. KBCM acted as Joint Lead Arranger and Joint Bookrunner on the transaction.

Gaming and Leisure Properties is a Pennsylvania-based real estate investment trust. The Company is engaged in the business of acquiring, financing and owning real estate property to be leased to gaming operators in triple net lease arrangements. GLPI’s portfolio currently consists of 57 gaming and related facilities, which are geographically diversified across 17 states. Its tenants include Penn National Gaming, Caesars Entertainment, Boyd Gaming Corporation, Bally’s Corporation, and the Cordish Companies.

Recent Deals

November 2022

Mount Union Senior Lofts

$20MM

Construction loan & LIHTC equity

Construction
Low Income Housing Tax Credits

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November 2022

has affiliated with

a portfolio company of

 

Sell-Side Advisor

Healthcare Investment Banking

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October 2022

The Heron apartments

$20 Million

High Leverage Bridge Loan

Bridge

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October 2022

has received a $500 million equity investment from

 

 

$500 Million

Sell-Side Advisor

Mergers & Acquisitions

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October 2022

has been acquired by

 

$185 Million

Exclusive Sell-Side Advisor

Mergers & Acquisitions

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October 2022

Caesars Entertainment 

$3 Billion

Senior Secured Credit Facilities

Syndication Agent

Debt Capital Markets

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October 2022

Richland Marketplace

 

$16.79 Million

Acquisition

Lender

Life Company

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September 2022

 

$90 Million

Senior Secured Credit Facilities

Left Lead Arranger
Joint Bookrunner
Administrative Agent

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September 2022

Marylhurst Commons

$58.7 Million

Construction
Freddie Mac
Low Income Housing Tax Credits

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September 2022

 

$153 Million

Commercial Property Assessed Clean Energy Financing

Structuring Agent

Debt Capital Markets

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September 2022

 

$260 Million

First Mortgage Bonds

Joint Lead Placement Agent

Private Placement

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September 2022

Southern Col MidCo, LLC

$170 Million

Senior Secured Notes

Joint Lead Placement Agent

Private Placement

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September 2022

 

$130 Million

First Mortgage Bonds

Joint Lead Placement Agent

Private Placement

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September 2022

Northern States Power Company (a Wisconsin Corporation)

$100 Million

First Mortgage Bonds

Sole Placement Agent

Private Placement

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September 2022

$600 Million

Delayed Draw Term Loan

$700 Million

Bridge Revolver

Joint Lead Arranger
Joint Bookrunner

Debt Capital Markets

gaming-and-leisure-properties-inc
September 2022

Welltower 

$750 Million

Unitranche Joint Venture

First mortgage financing available for seniors housing & skilled nursing facilities

welltower-1
September 2022

Welltower 

$5.2 Billion

Senior Unsecured Credit Facility

Joint Lead Arranger
Administrative Agent

welltower

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