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VICI Properties Announces Pricing of Public Offering of $1.3 Billion of Senior Unsecured Notes
NEW YORK, March 26, 2025--VICI Properties Inc. (NYSE: VICI) ("VICI Properties" or the "Company") announced today that its subsidiary, VICI Properties L.P. (the "Issuer"), has priced a public offering of $1.3 billion in aggregate principal amount of senior unsecured notes (the "Notes") consisting of:
About this update from Vici Properties Inc.
[{"type":"text","content":"NEW YORK, March 26, 2025--(BUSINESS WIRE)--VICI Properties Inc. (NYSE: VICI) ("VICI Properties" or the "Company") announced today that its subsidiary, VICI Properties L.P. (the "Issuer"), has priced a public offering of $1.3 billion in aggregate principal amount of senior unsecured notes (the "Notes") consisting of:","length":357,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"$400 million aggregate principal amount of 4.750% senior unsecured notes due 2028 (the "2028 Notes"). The 2028 Notes will be issued at 99.729% of par value and will mature on April 1, 2028.","length":199,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"$900 million aggregate principal amount of 5.625% senior unsecured notes due 2035 (the "2035 Notes"). The 2035 Notes will be issued at 99.219% of par value and will mature on April 1, 2035.","length":199,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":398,"olType":false},{"type":"text","content":"Interest on the 2028 Notes and the 2035 Notes is payable in cash in arrears on April 1 and October 1 of each year, beginning on October 1, 2025. The offering is expected to close on April 7, 2025, subject to the satisfaction of customary closing conditions.","length":257,"tagName":"p"},{"type":"text","content":"The Issuer intends to use the net proceeds from the offering to repay all or a portion of its outstanding (i) $500.0 million in aggregate principal amount of 4.375% senior notes due 2025, (ii) $799.4 million in aggregate principal amount of 4.625% senior exchange notes due 2025, and (iii) $0.6 million in aggregate principal amount of 4.625% senior notes due 2025, and any remaining net proceeds will be used for general corporate purposes, which may include the acquisition and improvement of properties, capital expenditures, working capital and the repayment or refinancing of indebtedness.","length":594,"tagName":"p"},{"type":"text","content":"Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., BofA Securities, Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc. are acting as joint book-running managers for the offering. BNP Paribas Securities Corp., Capit...