Churchill Downs closes amended credit facility, extends revolver/TLA to 2031, issues $500M Term Loan B due 2033

Churchill Downs Inc

New $500M senior secured Term Loan B due 2033 priced at SOFR+175bps and issued at 99.875% of principal; replaces existing term loan B-1.
Eighth Amendment dated Sept 25, 2026 extends Revolver and Term Loan A maturities from 2029 to Sept 25, 2031; JPMorgan Chase Bank is administrative agent.
Net proceeds repay term loan B-1 and outstanding revolver borrowings, pay transaction fees, and fund working capital and general corporate purposes.
CDI issued a conditional redemption notice Sept 18, 2026 to redeem its 5.50% Senior Notes due 2027 on Oct 19, 2026, funded from the revolver.
Revolver, Term Loan A and 2033 TLB are guaranteed by subsidiary guarantors and secured by substantially all assets of CDI and the guarantors.

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