DraftKings launches syndication for USD 600 million term loan B facility
DKNG•DraftKings launches syndication for senior secured term loan and revolving credit facility
DraftKings launched syndication for a senior secured Term Loan B facility of USD 600 million.
Net proceeds are earmarked for repurchases of Convertible Notes due 2028, subject to market conditions, with remaining funds for general corporate purposes.
DraftKings also has secured commitments for a new USD 750 million senior secured revolving credit facility maturing in 2031. The new revolving facility will replace an existing USD 500 million revolver maturing in 2029.
Closing remains subject to market conditions, with the new revolver expected to be substantially undrawn.
