Churchill Downs Raises $900M Via Debt

Churchill Downs Inc CHDN said its wholly-owned subsidiary, CDI Escrow Issuer Inc, is offering senior notes due 2030 in a private offering.
The offering is part of the financing for the proposed acquisition of Peninsula Pacific Entertainment LLC.
The company plans to place proceeds of $900 million in escrow. Upon satisfaction of the escrow conditions, CDI intends to use the net proceeds to finance the consummation of the acquisition and pay related transaction fees and expenses.
Price Action: CHDN shares are trading lower by 0.07% at $228.30 on the last check Wednesday.