Churchill Downs (CHDN) Prices $500 Million Loan. Could Interest Costs Rise?

Churchill Downs Incorporated priced a $500 million senior secured term loan on September 17, with an issue price of 99.875% and interest calculated at the Secured Overnight Financing Rate plus 175 basis points. The loan matures in 2033. Proceeds from the borrowing are designated for repaying existing Term Loan B and revolving credit facilities, covering transaction costs, and funding working capital and general corporate purposes.
The company also announced plans to redeem its 5.50% notes due i