(RTTNews) - Churchill Downs Inc. (CHDN), a racing, gaming and entertainment company, on Monday announced the launch of a proposed $500 million senior secured Term Loan B due 2033. The company plans to use the net proceeds to repay outstanding Term Loan B loans. The proceeds will also be used to partially redeem its 5.50% senior notes due 2027. The company will use part of the proceeds to fund transaction fees and expenses. The remaining proceeds will be used for working capital and other general corporate purposes. The transaction is subject to market, customary and gaming regulatory conditions. The company said there is no assurance that it will successfully complete the offering. In the pre-market trading, Churchill Downs is 0.89% lesser at $83.
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