Churchill Downs increases term loan A due 2027 to $1.3 billion

By Marisa Wong

Los Angeles, Feb. 24 – Churchill Downs Inc. amended its senior secured credit agreement to increase the loans under its existing term loan A facility due 2027 by $500 million to $1.3 billion, according to an 8-K filing with the Securities and Exchange Commission.

Loans under the increased term loan A bear interest at SOFR plus an applicable margin that is based on the company’s leverage ratio.

The company intends to use proceeds from the borrowings under the increased term loan A to repay outstanding loans under its existing senior secured revolver and for general corporate purposes.

Churchill Downs is a Louisville, Ky.-based racetracks and casinos company.

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