DraftKings Closes $600 Million Upsized Credit Facility

MT Newswires Live

2025/03/04

DraftKings (DKNG) said Tuesday it has closed a $600 million senior secured term loan B credit facility, upsized from an initial $500 million.

The facility is set to mature in March 2032 and carries an interest at secured overnight financing rate plus 1.75% per year.

The facility was issued at 99.50% of par and requires annual repayments of 1.00% of the total principal amount, the company said.

DraftKings said it will use the net proceeds from the facility for general corporate purposes.

Shares of DraftKings were down more than 4% in recent trading.

Price: 39.68, Change: -1.92, Percent Change: -4.60

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