Financing ·
On August 25, 2026, DraftKings Inc. closed a second amendment to its credit agreement, establishing a $700 million…
DKNGDraftKings Inc.
On August 25, 2026, DraftKings Inc. closed a second amendment to its credit agreement, establishing a $700 million senior secured Term Loan B facility maturing in August 2033 and upsizing its revolving credit facility to $750 million, replacing the previous $500 million facility due in November 2029. The new term loan bears interest at Term SOFR plus 2.00% per annum and requires a 1.00% annual principal amortization. DraftKings intends to use net proceeds from the term loans to repurchase a portion of its outstanding Convertible Notes due 2028, subject to market conditions, with remaining funds allocated for general corporate purposes. The company operates in the digital sports betting and gaming industry.