NEW YORK--(BUSINESS WIRE)--VICI Properties Inc. (NYSE: VICI) announced today that its wholly owned subsidiaries VICI Properties L.P. and VICI Note Co. Inc.have priced their offering of $750 million aggregate principal amount of 3.50% senior unsecured 5-year notes due 2025, $750 million aggregate principal amount of 3.75% senior unsecured 7-year notes due 2027 and $1.0 billion aggregate principal amount of 4.125% senior unsecured 10.5-year notes due 2030 at a price equal to 100% of face value. The 2025 Notes will mature on February 15, 2025, the 2027 Notes will mature on February 15, 2027 and the 2030 Notes will mature on August 15, 2030.
The Issuers intend to use $2.0 billion of the net proceeds from this offering of the Notes to consummate the series of previously announced transactions (the “Eldorado Transaction”) between the Company and Eldorado Resorts, Inc., with such $2.0 billion of net proceeds placed in escrow pending the consummation of the Eldorado Transaction. The Issuers intend to use the remaining net proceeds from this offering of the Notes to redeem in full the outstanding $498.5 million in aggregate principal amount of 8.0% Second Priority Senior Secured Notes due 2023, issued by a subsidiary of the Operating Partnership.
About VICI Properties
VICI Properties is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. VICI Properties’ national, geographically diverse portfolio consists of 27 gaming facilities comprising over 40 million square feet and features approximately 15,500 hotel rooms and more than 150 restaurants, bars and nightclubs. Its properties are leased to industry leading gaming and hospitality operators, including Caesars Entertainment Corporation, Century Casinos Inc., Hard Rock International and Penn National Gaming. VICI Properties also owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. VICI Properties’ strategy is to create the nation’s highest quality and most productive experiential real estate portfolio.
