VICI Properties L.P., the operating partnership of VICI Properties Inc., has completed a public offering of senior notes totaling $1.75 billion. The offering consists of two tranches with maturities in 2031 and 2036. The company intends to use the net proceeds to repay outstanding senior notes maturing in 2026, effectively refinancing its near-term debt obligations.
Key Details
- Offering Breakdown: The offering consists of $900 million of 5.400% Senior Notes due 2031 and $850 million of 5.750% Senior Notes due 2036.
- Use of Proceeds: Net proceeds will be used to repay approximately $1.75 billion in aggregate principal of three series of senior notes maturing in September and December 2026. Redemptions are expected to occur on August 17, 2026.
- Note Terms: The new notes are unsecured and unsubordinated obligations of VICI Properties L.P. Interest will be paid semi-annually on April 15 and October 15, beginning April 15, 2027.