DraftKings Inc. raises Term Loan B
DraftKings closed a US$700m senior secured term loan B credit facility on 25 August 2026, together with a separate US$750m senior secured revolving credit facility. The term loan was increased from the US$600m previously announced, which the company put down to strong demand, and matures in August 2033. The revolving facility replaces an existing US$500m facility that was due to mature in November 2029 and has a maturity date of August 2031. DraftKings said it intends to use the net proceeds of the term loan to repurchase part of its outstanding convertible notes due 2028, subject to availability and market conditions, and for other general corporate purposes.
LOG ENTRY
- Announced
- 25 Aug 2026
- Type
- Funding · debt financing
- Raising
- DraftKings Inc.
- Markets
- Not stated
- Value
- US$700m (USD 700,000,000)
- Status
- Completed
- Completed
- 25 Aug 2026
- Entry
- D-90
Entry history
- Logged from DraftKings press release, Exhibit 99.1 to Form 8-K, 25 Aug 2026
If the deal completes, lapses or changes terms, the update is added here as a new line, and every correction is also listed in the corrections log. Sources last retrieved 23 Oct 2026.