VICI Properties said it entered into an underwriting agreement on December 9, 2024 under which VICI LP agreed to issue and sell $750 million aggregate principal amount of 5.125% Senior Notes due 2031.

1. 01

   VICI Properties said it entered into an underwriting agreement on December 9, 2024 under which VICI LP agreed to issue and sell $750 million aggregate principal amount of 5.125% Senior Notes due 2031.

2. 02

   The company said the Notes will be issued at 99.643% of par value with a coupon of 5.125% per annum. Interest will be payable semi-annually in arrears on May 15 and November 15 of each year, beginning May 15, 2025, and the Notes will mature on November 15, 2031.

3. 03

   The company said it estimates net proceeds, after deducting underwriting discounts and other estimated offering expenses, at about $740.1 million. It said the offering is expected to close on December 19, 2024, subject to customary closing conditions.

4. 04

   The company said it will use the net proceeds to repay the outstanding $750.0 million in aggregate principal amount of 3.500% senior notes due 2025, with any remaining proceeds used for general corporate purposes. It said that if underwriters or their affiliates hold the 2025 Notes, they will receive a portion of the net proceeds used to repay those notes, and it explained that they could receive more than 5% of the net proceeds.

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