VICI Properties Inc. Announces New $500 Million 5-Year Unsecured Term Loan
Key Highlights
- ➤$500 million term loan matures January 31, 2032, initially priced at SOFR plus 90 basis points
- ➤Full $500 million draw will partially redeem and refinance 5.75% notes due February 2027
- ➤Swap agreements lock the term loan’s effective all-in fixed rate at approximately 5.20%
- ➤$2.5 billion revolving facility pricing lowered from SOFR plus 85 to SOFR plus 80 basis points
Expert Statements
David Kieske, Executive Vice President and Chief Financial Officer of VICI Properties
“We are very pleased to close this Term Loan, which diversifies our funding sources and addresses a meaningful portion of our February 2027 maturity at an attractive fixed cost and extends our debt maturity profile. We greatly appreciate the continued support and confidence of our bank group, and the improved pricing on our Revolving Credit Facility reflects the strength of our investment grade balance sheet.”
VICI Properties Inc. Announces New $500 Million 5-Year Unsecured Term Loan
VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) today announced that its subsidiary issuer, VICI Properties L.P. (“VICI LP”), has closed on an amendment to its existing credit agreement, which added a new $500 million unsecured term loan (the “Term Loan”). The Term Loan matures on January 31, 2032 and initially bears interest at SOFR plus 90 basis points, based on a pricing grid tied to VICI LP’s current credit ratings, and includes a pricing improvement when VICI LP’s total leverage ratio is at or below a defined threshold.
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