DraftKings Announces Launch of $600 Million Term Loan B Facility and Upsized $750 Million Revolving Credit Facility

DraftKings Announces Launch of $600 Million Term Loan B Facility and Upsized $750 Million Revolving Credit Facility

DraftKings Inc. (Nasdaq: DKNG) (the “Company” or “DraftKings”) today announced the launch of syndication for a proposed senior secured term loan B credit facility (the “Term Loan B”) in an aggregate principal amount of $600 million. 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 purposes.