Churchill Downs prices $500M Term Loan B at SOFR+175
Churchill Downs priced a $500M senior secured Term Loan B due 2033 at SOFR+175 bps, issued at 99.875%. Proceeds will repay existing TLB and revolver, fund fees, and working capital, and it plans a conditional redemption of its 5.50% notes due 2027.
875%. The company said proceeds will be used to repay its existing TLB and revolver, fund fees and support working capital. 50% Senior Notes due 2027.