Today's LIBOR Rates
1 M |
0.31563 |
 |
3 M |
0.47500 |
|
6 M |
0.68794 |
|
1 YR |
1.06438 |
|
FREE Newsletter
Recommended Links
 |
Churchill Downs Amends LIBOR-Based Facility |
December 23, 2009
Per a company press release, Churchill Downs, Inc. has amended a credit facility with rates based on LIBOR, the London Interbank Offered Rate. LIBOR is a filtered average of rates that banks charge each other for short-term, unsecured loans.
A publicly traded company that operates the track that is home to the Kentucky Derby, Churchill Downs, Inc. has expanded its available credit from $120 million to $275 million. The new four-year facility supersedes a previous facility that was set to expire in 2010. J.P. Morgan Securities, Inc. U.S. Bank N.A. and Wells Fargo N.A. are among participating financial institutions. Interest on the new facility is LIBOR plus 2 to 3.5%.
In other LIBOR news at Churchill Downs, the four-year old filly Libor Lady won the November 12 feature race. Libor Lady’s pedigree includes her father, Exchange Rate, and paternal grandmother, Sterling Pound.