Gaming and Leisure calls 5.375% notes due 2023 at make-whole price

By William Gullotti

Buffalo, N.Y., Jan. 13 – Gaming and Leisure Properties, Inc. sent redemption notices to all registered holders of its $500 million 5.375% senior notes due Nov. 1, 2023, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed on Feb. 12 at the make-whole premium, the sum of the present values of the remaining scheduled payments of principal and interest discounted at Treasuries plus 50 bps. Accrued and unpaid interest will also be included when payment is rendered Feb. 13.

The notes were issued in 2013 by the company and subsidiaries GLP Capital, LP and GLP Financing II, Inc.

Wells Fargo Bank, NA is the trustee.

Gaming and Leisure is a Wyomissing, Pa.-based gaming-oriented real estate investment trust.

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