Penn National closes on $1B expansion of senior secured credit facilities

theflyonthewall.com

Penn National Gaming announced that it expanded its existing secured $2.15B of senior secured credit facilities by $1B. Under the original terms of the senior secured credit facilities entered into in July 2011, Penn National had the option to increase the amounts of the facilities at prevailing market rates, subject to obtaining commitments from lenders, pro forma compliance with financial covenants and other customary conditions.

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