DraftKings Closes $600 Million Upsized Term Loan B Facility
Summary
BOSTON, March 04, 2025 (GLOBE NEWSWIRE) DraftKings Inc. (Nasdaq: DKNG) today announced that it has successfully closed on its senior secured term loan B credit facility in an aggregate principal amount of $600 million. The Term Loan B was offered at 99.50% of par and is required to be repaid at 1.00% of its aggregate principal amount per annum.DraftKings will utilize the net proceeds of the Term Loan B for general corporate purposes.DraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming, and digital media. Headquartered in Boston and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings mission is to make life more exciting by responsibly creating the worlds favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C., and in Ontario, Canada.