Churchill Downs plans to repay credit facility debt via note proceeds

By Wendy Van Sickle

Columbus, Ohio, Dec. 1 – Churchill Downs Inc. plans to repay outstanding borrowings and accrued interest under its senior secured credit facility with the proceeds from a planned offering of an additional $250 million of senior notes due 2021, according to a press release.

The company also plans to use proceeds for general corporate purposes, which may include paying the anticipated earn-out obligation in March 2016 related to its Big Fish Games Inc. acquisition and to pay related fees and expenses.

Churchill Downs is a Louisville, Ky.-based owner and operator of racing facilities.

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