VICI PROPERTIES INC. (VICI): debt financing — VICI Properties replaces $2.5B revolver due 2026 with new $2.5B facility maturing 2029

VICI PROPERTIES INC.

New $2.5B senior unsecured revolver matures Feb 3, 2029; includes two 6-month or one 12-month extension option.
Up to $147.5M drawn at closing to repay existing facility; facility can increase to $3.5B revolver plus $2.0B term loans.
Interest margins: SOFR + 0.70%-1.40% or base + 0.00%-0.40%; facility fee 0.10%-0.30% based on ratings/leverage.
Financial covenants: debt/assets ≤60%, EBITDA/fixed charges ≥1.50x, secured debt ≤40%, unsecured debt/asset value ≤60%.
Includes $1.25B Alternative Currency Sublimit for borrowings in Sterling, Euros, AUD, CAD, NZD, Yen.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VICI PROPERTIES INC. incurred revolving credit of $2.5 billion with Wells Fargo Bank, N.A., as administrative agent at SOFR plus a margin ranging from 0.70% to 1.40% maturing February 3, 2029.

Instrument: revolving credit
Principal: $2.5 billion
Counterparty: Wells Fargo Bank, N.A., as administrative agent
Rate: SOFR plus a margin ranging from 0.70% to 1.40%
Maturity: February 3, 2029
Event: incurrence

Exact text from the filing

On February 3, 2025 (the "Effective Date"), VICI Properties L.P. (the "Borrower"), a Delaware limited partnership and wholly owned subsidiary of VICI Properties Inc. (the "Company"), entered into a new Credit Agreement with Wells Fargo Bank, N.A., as administrative agent, and the other lenders party thereto (the "Credit Agreement"), comprised of a $2.5 billion senior revolving credit facility scheduled to mature on February 3, 2029 (the "Credit Facility").

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Source: SEC EDGAR

accession 0001104659-25-008898

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