Churchill Downs increases Term Loan A by $500M to $1.3B, repays revolver

Churchill Downs Inc

Increased Term Loan A facility from $800M to $1.3B via Incremental Joinder Agreement No. 2.
Interest rate is SOFR-based plus a spread determined by CDI's total net leverage ratio.
Net proceeds used to repay outstanding revolver loans, pay fees, and for general corporate purposes.
Amendment dated February 24, 2023; JPMorgan Chase Bank, N.A. acts as Administrative Agent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Churchill Downs Inc amended Incremental Joinder Agreement No. 2 with the lenders party thereto and JPMorgan Chase Bank, N.A. as Administrative Agent valued at $500 million.

Action: amendment
Agreement: credit facility
Counterparty: the lenders party thereto and JPMorgan Chase Bank, N.A. as Administrative Agent
Value: $500 million

Exact text from the filing

The Incremental Joinder provides for (i) an increase of the loans under the existing senior secured Term Loan A credit facility due 2027 (the “Increased Term Loan A”) from $800,000,000 to $1,300,000,000 and (ii) certain other amendments to the Credit Agreement, as set forth therein.

View on SEC.gov

Browse all material agreements →

Churchill Downs Inc filing history →

Source: SEC EDGAR

accession 0001193125-23-048841

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.