VICI Properties said it entered into an underwriting agreement on March 7, 2024 under which VICI LP agreed to issue and sell $550 million of 5.750% Senior Notes due 2034 and $500 million of 6.125% Senior Notes due 2054.

1. 01

   VICI Properties said it entered into an underwriting agreement on March 7, 2024 under which VICI LP agreed to issue and sell $550 million of 5.750% Senior Notes due 2034 and $500 million of 6.125% Senior Notes due 2054.

2. 02

   The company said the 2034 Notes will be issued at 99.186% of par value and the 2054 Notes at 98.192% of par value. Interest is payable semi-annually in arrears on April 1 and October 1, with the first interest payment on October 1, 2024.

3. 03

   The company said VICI LP estimates net proceeds from the offering, after deducting underwriting discounts and other estimated offering expenses, at about $1,025.5 million. The offering is expected to close on March 18, 2024, subject to customary closing conditions.

4. 04

   VICI Properties said VICI LP plans to use the net proceeds to repay $1,024.2 million of 5.625% senior exchange notes due 2024 and $25.8 million of 5.625% senior notes due 2024.

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