DraftKings closes $700 million Term Loan B facility after upsizing on strong demand

Reuters2026/08/26 09:07

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DraftKings closed a USD 700 million senior secured Term Loan B facility, upsized from USD 600 million on strong demand.
Term Loan B matures in August 2033; priced at SOFR + 2%; issued at 99.5% of par.
Proceeds earmarked for repurchases of Convertible Notes due 2028, subject to market conditions, with remaining funds for general corporate purposes.
DraftKings also closed a new USD 750 million senior secured revolving credit facility, replacing a USD 500 million revolver due November 2029.
Revolver matures in August 2031; available for general corporate purposes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Draftkings Inc. published the original content used to generate this news brief on August 25, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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DraftKings closes $700 million Term Loan B facility after upsizing on strong demand

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