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new york – VICI properties Inc. (NYSE:), a prominent experiential real estate investment trust, announces the pricing of a public offering of $1.05 billion of senior unsecured notes by its subsidiary VICI Properties LP. This offering consists of two tranches: $550 million in 5.750% notes due in 2034 and $500 million in 6.125% notes due in 2054 maturing on April 1 of each year. Welcome.
The 2034 Notes are being issued at 99.186% of par and the 2054 Notes are at 98.192%. Interest will be paid semi-annually on April 1 and October 1, 2024, beginning October 1, 2024. The expected closing date of the offering is March 18, 2024, subject to standard closing conditions.
The proceeds from the sale are intended to repay existing senior notes maturing in 2024, specifically $1,024.2 million of 5.625% senior notes and $25.8 million of 5.625% senior notes.
Joint bookrunning managers for the offering include Wells Fargo Securities, JPMorgan, BofA Securities and Goldman Sachs & Co. (NYSE:). LLC, Barclays, BNP Paribas, Citigroup, Citizen Capital Markets, Deutsche Bank Securities, Morgan Stanley, Scotiabank, Trust Securities. This offering is being made pursuant to an effective shelf registration statement with the SEC, and a prospectus is available upon request from the managing financial institution.
VICI Properties boasts a diverse portfolio featuring iconic properties such as Caesars (NASDAQ:) Palace Las Vegas, MGM Grand and Venetian Resort Las Vegas. The trust owns 93 properties in the United States and Canada, including approximately 127 million square feet, 60,300 hotel rooms, and numerous restaurants and entertainment venues.
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