Boyd Gaming enters $1.45B revolver and $1.2B term loan, refinances prior credit facility

BOYD GAMING CORP

New $1.45B senior secured revolver and $1.2B delayed draw term A loan mature Jan 21, 2031 (5 years).
Term A loans available until July 1, 2027; on Feb 1, 2026, undrawn portion reduced by greater of drawn amount or $400M.
Proceeds used to refinance prior credit agreement and pay transaction costs; also for working capital and general corporate purposes.
Interest rate based on SOFR or base rate plus margin ranging from 1.25% to 2.25% (SOFR) depending on leverage.
Covenants include maximum Consolidated Total Net Leverage Ratio and minimum interest coverage ratio.

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