VICI Properties closes $1.75B senior unsecured notes offering

VICI Properties Inc. (NYSE: VICI) has completed a public offering of $1.75 billion in senior unsecured notes through its subsidiary, VICI Properties L.P., according to a press release.

The offering consists of two tranches: $900 million in 5.400% senior unsecured notes due October 15, 2031, issued at 99.966% of par value, and $850 million in 5.750% senior unsecured notes due October 15, 2036, issued at 98.375% of par value.

The company intends to use the net proceeds to repay existing debt, including $480.5 million of 4.500% senior notes due 2026, $19.5 million of 4.500% senior notes due 2026, and $1.25 billion of 4.250% senior notes due 2026.

Wells Fargo Securities, Barclays Capital, Mizuho Securities USA, and Truist Securities served as joint book-running managers, alongside BNP Paribas Securities, BofA Securities, Capital One Securities, Citigroup Global Markets, Citizens JMP Securities, J.P. Morgan Securities, and SMBC Nikko Securities America. Deutsche Bank Securities, Goldman Sachs, and Morgan Stanley acted as senior co-managers, with Scotia Capital serving as co-manager.

The offering was made under a shelf registration statement filed with the Securities and Exchange Commission.

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