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.

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