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Churchill Downs plans $800 million term A, revolver amendment
By Sara Rosenberg
New York, March 30 – Churchill Downs Inc. plans on getting an $800 million senior secured delayed-draw term loan A due 2027 and amending its senior secured revolving credit facility to increase the size to $1.2 billion, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.
The amendment would also extend the revolver maturity to five years from the effective date of the amendment.
The financing and amendment are being done in connection with the company’s acquisition of Peninsula Pacific Entertainment LLC for $2.485 billion.
Other funds for the acquisition will come from $1.2 billion of notes, upsized from $900 million.
Churchill Downs is a Louisville, Ky.-based racetracks and casinos company.
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