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Article: Penn National Gaming Granted Amendments to Extend Maturities and Expand Senior Secured Credit Facilities.
- Article from:
- Business Wire
- Article date:
- September 24, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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- Now Has $359 Million of Revolving Commitments Expiring in October 2010 and $641 Million of Revolving Commitments Expiring July 2012 -
WYOMISSING, Pa. -- Penn National Gaming, Inc. (Nasdaq: PENN) announced today that, following appropriate regulatory approvals and notifications, it amended its $2.725 billion senior secured credit facilities to extend certain maturities, expand availability, allow for debt and equity repurchases, potentially further expand the facility and extend maturities and modify compliance covenants. Separately, the Company also announced that it has used the net proceeds of its August 2009 private placement of $325 million principal amount ...