Churchill Downs expected to sell $300 million notes in Dec. 11 week; initial talk is low 5% area

By Paul A. Harris

Portland, Ore., Dec. 8 – Churchill Downs Inc. is expected to bring $300 million of high-yield notes to the market during the Dec. 11 week, according to a buyside source.

Initial guidance has the deal coming with a yield in the low 5% area, the source added.

J.P. Morgan Securities LLC will lead the debt refinancing.

The Louisville, Ky.-based owner and operator of racing facilities is in the leveraged loan market with a $600 million term loan.

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