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Legal News

Cahill Represents Initial Purchasers in $500 Million Notes Offering for Churchill Downs Incorporated and Lead Arrangers in connection with $1.1 Billion of Credit Facilities for Churchill Downs Incorporated.

Date: 12/27/17

Cahill represented J.P. Morgan Securities LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., Fifth Third Securities, Inc, Wells Fargo Securities, LLC and KeyBanc Capital Markets Inc. as initial purchasers in connection with a Rule 144A offering of $500,000,000 aggregate principal amount of 4.75% senior notes due 2028 by Churchill Downs Incorporated. Cahill also represented JPMorgan Chase Bank, N.A., Fifth Third Bank, PNC Capital Markets LLC, U.S. Bank National Association and Wells Fargo Securities, LLC as lead arrangers and JPMorgan Chase Bank, N.A. as administrative agent in connection with a $400,000,000 Term B credit facility and a $700,000,000 revolving credit facility. Proceeds from the offering of the notes and borrowing's under the Term B credit facility are expected to be used to refinance outstanding indebtedness and for general corporate purposes.