Latham Represents PENN Entertainment, Inc. in US$962.5 Million Term Loan B Repricing and Extension

Latham & Watkins represented PENN Entertainment, Inc. in connection with a US$962.5 million Term Loan B facility. The company amended its existing credit agreement to, among other things, reduce the interest rate margins applicable to the Term Loan B facility from 2.50% to 2.00% in the case of term SOFR loans and from 1.50% to 1.00% in the case of base rate loans, and extend the term of the Term Loan B facility to May 2033.

Partners Emily Johnson and Cindy Caillavet led the Latham team, with associate Melissa Doura and assistance from Luca Brandi. Advice was also provided on corporate matters by counsel Jess Lennon and on tax matters by partner Matthew Dewitz.