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AI brief of an SEC Form 8-K · Penn Entertainment (PENN)

PENN Entertainment cuts interest rate margins on $978 million term B loans

Positive Impact 3 of 5 financing Written later

PENN Entertainment entered a Second Amendment to its credit agreement with Bank of America, N.A. as administrative agent, dated December 4, 2024. The amendment lowers the interest rate margins on the company's approximately $978 million in existing term B facility loans and removes a 0.10% credit spread adjustment, while the loan maturity is unchanged. Lower borrowing costs on this debt are a financing change; the filing does not report earnings or guidance.

Key points

  • Term SOFR loan margin reduced from 2.75% to 2.50%
  • Base rate loan margin reduced from 1.75% to 1.50%
  • 0.10% credit spread adjustment removed for term B facility loans; maturity unchanged
  • Amendment dated December 4, 2024; full text filed as Exhibit 10.1

The filing

CompanyPenn Entertainment (PENN)
Form8-K, current report
Filed with the SECDec 4, 2024, 8:16 AM ET
Accession number0001104659-24-125366

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 04, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.