Churchill Downs closes USD 500 million Term Loan B due 2033 at SOFR+175 bps
Bitget2026/09/28 11:03- Churchill Downs closed an amended credit facility, extending its revolving credit facility and term loan A maturities to 2031 from 2029.
- Borrowing costs under the amended credit agreement shift to SOFR-based pricing, with spreads tied to total net leverage.
- Financing package includes a new USD 500 million senior secured Term Loan B due 2033, priced at SOFR + 175 basis points.
- The 2033 Term Loan B was issued at 99.875% of principal, with proceeds earmarked for debt repayment and general corporate purposes.
- A conditional redemption of 5.50% Senior Notes due 2027 is set for Oct. 19, 2026, funded via the revolving credit facility.
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