Churchill Downs extends revolver and Term Loan A maturities from 2027 to 2029
Churchill Downs closed an amendment to its senior secured credit agreement that extends the maturity of its revolving credit facility and Term Loan A from 2027 to 2029, and makes other changes to the agreement. The filing does not disclose borrowing amounts or pricing changes beyond the existing SOFR-based structure, so the effect is a longer repayment runway for the company's bank debt.
- Revolver and Term Loan A maturities extended from 2027 to July 3, 2029
- Sixth Amendment includes a springing maturity if other material debt maturing before July 3, 2029 is not refinanced at least 91 days before its stated maturity
- Loans continue to bear interest at SOFR plus a margin based on leverage ratio; JPMorgan Chase Bank, N.A. is administrative agent