DraftKings Launches Syndication For $600M Proposed Senior Secured Term Loan B Credit Facility
DraftKings intends to utilize the net proceeds of the Term Loan B for repurchases of a portion of its existing Convertible Notes due 2028 (subject to availability and market conditions) and other general corporate
DraftKings is borrowing $600 million to pay back some of its older debts. When a company refinances like this, watch whether it makes their finances simpler and gives them more breathing room for their business.
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