Churchill Downs Incorporated raises senior secured Term Loan B due 2033

Churchill Downs Incorporated closed a US$500m senior secured term loan B due 2033, announced on 28 September 2026. The loan carries interest at SOFR plus 175 basis points and was issued at 99.875% of principal. The company also closed an amendment to its senior secured credit agreement, with JPMorgan Chase Bank, N.A. as administrative agent, extending the maturity of its revolving credit facility and term loan A facility from 2029 to 2031. The company intends to use net proceeds of the term loan to repay existing term loan B and revolving loans, to fund transaction fees and expenses, and for working capital and general corporate purposes. The company operates racing venues, online wagering businesses and regional casinos.