---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-048841"
form_type: "8-K"
ticker: "CHDN"
cik: "0000020212"
company_name: "Churchill Downs Inc"
filed_at: "2023-02-24T23:59:59+00:00"
generated_at: "2026-06-19T01:00:27.187445+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-048841
- form_type: 8-K
- ticker: CHDN
- cik: 0000020212
- company_name: Churchill Downs Inc
- filed_at: 2023-02-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/20212/000119312523048841/0001193125-23-048841-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/20212/000119312523048841/d454290d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-048841
- JSON: https://secwatch.observer/filing/0001193125-23-048841.json
- Plain text: https://secwatch.observer/filing/0001193125-23-048841.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/20212/000119312523048841/0001193125-23-048841-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.