Penn
National Gaming Calls for Redemption of Notes
Penn National Gaming, Inc. announced
today that it has called for redemption all
$175 million in aggregate principal amount of
its outstanding 8 -7/8% Senior Subordinated
Notes due March 15, 2010.
The
redemption price is $1,044.38 per $1,000 principal
amount, plus accrued and unpaid interest to
the scheduled redemption date, which is March
15, 2006. The Company intends to fund the redemption
of the Notes from available cash and borrowings
under its revolving credit facility.
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