Penn National Gaming Launches Debt Offering

24 Nov 2003

WYOMISSING, Pennsylvania -- (Press Release) -- Penn National Gaming, Inc. (PENN:Nasdaq) announced today that it plans to offer $200 million of Senior Subordinated Notes in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Net proceeds from the offering will be used to repay existing indebtedness under its senior secured credit facility.

The Senior Subordinated Notes will rank equally with all of the Company's other existing and future senior subordinated indebtedness and will be junior to the Company's senior indebtedness, including debt under the Company's senior secured credit facility. The Senior Subordinated Notes will be guaranteed by all of the Company's current subsidiaries that are guarantors under the Company's senior secured credit facility and outstanding senior subordinated indebtedness and future wholly-owned domestic subsidiaries.

Language: Any Language Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue
	Penn National Gaming Launches Debt Offering 24 Nov 2003 WYOMISSING, Pennsylvania -- (Press Release) -- Penn National Gaming, Inc. (PENN:Nasdaq) announced today that it plans to offer $200 million of Senior Subordinated Notes in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Net proceeds from the offering will be used to repay existing indebtedness under its senior secured credit facility. The Senior Subordinated Notes will rank equally with all of the Company's other existing and future senior subordinated indebtedness and will be junior to the Company's senior indebtedness, including debt under the Company's senior secured credit facility. The Senior Subordinated Notes will be guaranteed by all of the Company's current subsidiaries that are guarantors under the Company's senior secured credit facility and outstanding senior subordinated indebtedness and future wholly-owned domestic subsidiaries.