Churchill downs incorporated announces a $500 million senior secured term loan a financing transaction

Louisville, ky., feb. 24, 2023 (globe newswire) -- churchill downs incorporated (“cdi” or the “company”) (nasdaq: chdn) today announced an amendment of its senior secured credit agreement to increase the loans under the existing term loan a credit facility due 2027 by $500 million. this amendment increases the existing term loan a credit facility due 2027 from $800 million to $1,300 million (the “increased term loan a”) and makes certain other changes to its existing credit agreement. the interest rate applicable to borrowings on the increased term loan a will be sofr-based plus a spread, determined by cdi's total net leverage ratio.
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