- An $85 million expansion to the existing $700 million revolving credit facility due July 2016;
- A $400 million expansion to the existing $700 million five year Term Loan A due July 2016; and,
- A $515 million expansion to the existing $750 million Term Loan B due July 2018.
Penn National Gaming, Inc. (PENN: Nasdaq) announced today that it expanded its existing secured $2.15 billion of senior secured credit facilities by $1 billion. 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. The expanded credit facilities include: