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Penn National wraps up $400M senior notes issuance

Penn National Gaming Inc. completed its private offering of $400.0 million of new 5.625% senior notes due 2027.

The company issued the notes at par Jan. 19.

Penn said earlier that it will use the proceeds primarily to fund its cash tender offer for $300 million of 5.875% senior notes due 2021 and to pay related fees and expenses.

Wells Fargo Bank NA was the trustee for the notes.