debt
confidence high
sentiment neutral
materiality 0.55
VICI LP issues $1.3B of 4.750% and 5.625% notes to refinance 2025 maturities
VICI PROPERTIES INC.
- $400M 4.750% notes due 2028 and $900M 5.625% notes due 2035 issued April 7, 2025.
- Proceeds used to repay $500M 4.375% May 2025 notes and $800M 4.625% June 2025 notes.
- Redemption of May 2025 notes expected April 8, 2025; June 2025 notes by April 26, 2025.
- Notes are unsecured, unsubordinated; rank equally with existing unsecured debt.
- Indenture limits VICI LP's ability to incur secured/unsecured debt and requires 150% unencumbered assets coverage.