DraftKings Inc. (DKNG): debt financing — DraftKings closes $600M Term Loan B, upsized from $500M on strong demand

DraftKings Inc.

Closed $600M senior secured Term Loan B, increased from $500M due to strong demand.
Matures March 2032; interest rate SOFR + 1.75% per annum; offered at 99.50% of par.
Mandatory annual repayment of 1.00% of aggregate principal amount per annum.
Net proceeds to be used for general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DraftKings Inc. incurred term loan of $600,000,000 with Morgan Stanley Senior Funding, Inc. (administrative agent) at Term SOFR plus an applicable margin of 1.75% per annum maturing March 4, 2032.

Instrument: term loan
Principal: $600,000,000
Counterparty: Morgan Stanley Senior Funding, Inc. (administrative agent)
Rate: Term SOFR plus an applicable margin of 1.75% per annum
Maturity: March 4, 2032
Event: incurrence

Exact text from the filing

The Amendment established a new class of incremental term loans under the Credit Agreement in an aggregate principal amount of $600,000,000 (the “Term B Facility” and, such term loans, the “Term B Loans”).

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DraftKings Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-020044

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