Loan & DebtMay 28, 2026, 04:13 PM
PENN Entertainment Reprices, Extends $962.5M Term Loan B
AI Summary
PENN Entertainment, Inc. entered into an amendment to its Second Amended and Restated Credit Agreement on May 28, 2026. This amendment repriced and extended the term of the company's $962.5 million Term Loan B Facility, pushing its maturity to May 2033. The interest rate margins for the Term Loan B Facility were reduced, with term SOFR loans decreasing from 2.50% to 2.00% and base rate loans from 1.50% to 1.00%.
Key Highlights
- PENN Entertainment amended its Second Amended and Restated Credit Agreement on May 28, 2026.
- The amendment repriced and extended the term of the $962.5 million Term Loan B Facility.
- The Term Loan B Facility will now mature in May 2033.
- Interest rate margins for term SOFR loans were reduced from 2.50% to 2.00%.
- Interest rate margins for base rate loans were reduced from 1.50% to 1.00%.
- The maturity of the term loan A facility and revolving facility remains unchanged.
Price Impact
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