VICI Properties Inc. Announces New $2.5 Billion Unsecured Credit Facility
VICI Properties (NYSE: VICI) has announced a new $2.5 billion multicurrency unsecured revolving credit facility, replacing its existing facility of the same size. The new facility, which received strong support from 15 financial institutions, matures on February 3, 2029, and includes extension options. Based on current credit ratings and leverage ratios, it bears interest at 85.0 basis points over the SOFR rate for USD borrowings, with a facility fee of 20.0 basis points.
The company maintains an option to increase the facility by up to $1.0 billion with lender agreement. Wells Fargo Securities and JPMorgan Chase Bank served as Joint Bookrunners, with Wells Fargo Bank as Administrative Agent. The facility was substantially oversubscribed, demonstrating strong banking sector confidence in VICI's business model.
VICI Properties (NYSE: VICI) ha annunciato una nuova linea di credito revolving non garantita in più valute da 2,5 miliardi di dollari, che sostituisce la sua struttura esistente della stessa dimensione. La nuova linea, che ha ricevuto un forte sostegno da parte di 15 istituzioni finanziarie, scade il 3 febbraio 2029 e include opzioni di proroga. Sulla base delle attuali valutazioni di credito e dei rapporti di leva, essa prevede un interesse pari a 85,0 punti base sopra il tasso SOFR per i prestiti in USD, con una commissione per la linea di credito di 20,0 punti base.
L'azienda mantiene un'opzione per aumentare la linea fino a 1,0 miliardo di dollari con l'accordo dei finanziatori. Wells Fargo Securities e JPMorgan Chase Bank hanno agito come Joint Bookrunners, con Wells Fargo Bank in qualità di Agente Amministrativo. La linea è stata sostanzialmente sovrascritta, dimostrando una forte fiducia del settore bancario nel modello di business di VICI.
VICI Properties (NYSE: VICI) ha anunciado una nueva línea de crédito rotativa no garantizada en múltiples monedas de 2.5 mil millones de dólares, reemplazando su instalación existente del mismo tamaño. La nueva línea, que recibió un sólido apoyo de 15 instituciones financieras, vence el 3 de febrero de 2029 e incluye opciones de extensión. Con base en las calificaciones crediticias y las razones de apalancamiento actuales, devenga intereses de 85.0 puntos básicos sobre la tasa SOFR para préstamos en USD, con una tarifa de instalación de 20.0 puntos básicos.
La empresa mantiene la opción de aumentar la línea en hasta 1.0 mil millones de dólares con el acuerdo de los prestamistas. Wells Fargo Securities y JPMorgan Chase Bank actuaron como Co-líderes de Libros, con Wells Fargo Bank como Agente Administrativo. La línea fue sustancialmente sobredimensionada, demostrando una fuerte confianza del sector bancario en el modelo de negocio de VICI.
VICI Properties (NYSE: VICI)가 기존의 동일한 규모의 신용 한도를 대체하는 새로운 25억 달러 규모의 다통화 무담보 회전 신용 시설을 발표했습니다. 15개 금융 기관으로부터 강력한 지지를 받은 이 새로운 시설은 2029년 2월 3일 만료되며 연장 옵션이 포함되어 있습니다. 현재 신용 등급 및 레버리지 비율에 따라, 미국 달러 차입에 대해 SOFR 금리에 85.0bp의 금리를 적용받으며, 시설 수수료는 20.0bp입니다.
회사는 대출자 합의에 따라 최대 10억 달러까지 시설을 늘릴 수 있는 옵션을 유지합니다. 웰스파고 증권과 JP모건 체이스 은행이 공동 주관사로 참여했으며, 웰스파고 은행이 관리 대행사로서 역할을 했습니다. 이 시설은 과도한 수요를 기록하며, VICI의 사업 모델에 대한 은행 부문의 강한 신뢰를 드러냈습니다.
VICI Properties (NYSE: VICI) a annoncé une nouvelle facilité de crédit renouvelable non garantie en plusieurs devises de 2,5 milliards de dollars, remplaçant son installation existante de même taille. La nouvelle installation, qui a reçu un fort soutien de 15 institutions financières, arrive à échéance le 3 février 2029 et inclut des options de prolongation. Sur la base des notations de crédit actuelles et des ratios d'endettement, elle porte un intérêt de 85,0 points de base au-dessus du taux SOFR pour les emprunts en USD, avec un frais d'installation de 20,0 points de base.
La société conserve une option pour augmenter la facilité jusqu'à 1,0 milliard de dollars avec l'accord des prêteurs. Wells Fargo Securities et JPMorgan Chase Bank ont agi en tant que co-bookrunners, Wells Fargo Bank en tant qu'Agent Administratif. La facilité a été considérablement sursouscrite, démontrant la forte confiance du secteur bancaire dans le modèle commercial de VICI.
VICI Properties (NYSE: VICI) hat eine neue unbesicherte revolvierende Kreditlinie in mehreren Währungen über 2,5 Milliarden Dollar angekündigt, die die bestehende Kreditlinie in derselben Höhe ersetzt. Die neue Linie, die starke Unterstützung von 15 Finanzinstituten erhielt, läuft am 3. Februar 2029 aus und umfasst Verlängerungsoptionen. Basierend auf den aktuellen Kreditratings und Verschuldungsquoten, beträgt der Zinssatz 85,0 Basispunkte über dem SOFR-Satz für USD-Darlehen, wobei eine Einrichtungsgebühr von 20,0 Basispunkten anfällt.
Das Unternehmen hat die Möglichkeit, die Linie mit Zustimmung der Kreditgeber um bis zu 1,0 Milliarden Dollar zu erhöhen. Wells Fargo Securities und JPMorgan Chase Bank fungierten als Joint Bookrunners, während Wells Fargo Bank als Verwaltungsstelle tätig war. Die Linie war erheblich überzeichnet, was das starke Vertrauen des Bankensektors in das Geschäftsmodell von VICI zeigt.
- Secured $2.5 billion revolving credit facility with extended maturity to 2029
- Strong banking support with 15 financial institutions oversubscribing the facility
- Option to increase facility by additional $1.0 billion
- Maintains investment grade balance sheet and multicurrency financing flexibility
- None.
Insights
The new $2.5 billion revolving credit facility represents a significant strategic enhancement to VICI Properties' financial flexibility. The facility's oversubscription by 15 major financial institutions signals exceptional market confidence in VICI's business model and credit quality. The multicurrency feature is particularly valuable for a real estate investment trust focused on gaming properties, as it provides optionality for international expansion without additional currency hedging costs.
The pricing terms are notably competitive, with an 85 basis point spread over SOFR and a 20 basis point facility fee, reflecting VICI's strong investment-grade credit profile. The $1.0 billion accordion feature provides additional flexibility for opportunistic growth. The 2029 maturity with extension options significantly reduces refinancing risk and provides stable access to capital through multiple market cycles.
Most importantly, this facility enhances VICI's competitive advantage in pursuing large-scale gaming and entertainment property acquisitions. The combination of size, pricing and flexibility positions VICI to act quickly on opportunities while maintaining a conservative balance sheet structure. The strong banking relationships demonstrated by this transaction also suggest favorable access to capital markets for future debt issuances.
Extends Maturity to 2029
The Revolving Credit Facility matures on February 3, 2029 and can be extended for two successive six-month terms or one twelve-month term. Based on a pricing grid and the Company’s current credit ratings and leverage ratios, the Revolving Credit Facility currently bears interest at a rate of 85.0 basis points over the SOFR rate or, in the case of borrowings in a foreign currency, the corresponding index rate for such currency. In addition, based on the Company’s current credit ratings and leverage ratios, the Revolving Credit Facility requires the payment of a facility fee of 20.0 basis points of total commitments. The Company has an option to increase the Revolving Credit Facility by up to
David Kieske, Executive Vice President and CFO, said, “We greatly appreciate the continued capital support of our bank group and the confidence they have in our business. This new facility maintains our depth of liquidity and multicurrency financing flexibility for our investment grade balance sheet to take advantage of potential investment opportunities.”
Wells Fargo Securities, LLC. and JPMorgan Chase Bank, N.A. served as the Joint Bookrunners on the Revolving Credit Facility with Wells Fargo Bank, N.A. acting as the Administrative Agent. BofA Securities, Inc., Citibank, N.A. and JPMorgan Chase Bank, N.A. served as the Syndication Agents. Wells Fargo Securities, LLC., BofA Securities, Inc., Citibank, N.A., JPMorgan Chase Bank, N.A., Barclays Bank PLC, Goldman Sachs Bank
About VICI Properties
VICI Properties Inc. is an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words “assumes,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “plans,” “projects,” and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance, or achievements. Important risk factors that may affect the Company’s business, results of operations and financial position (including those stemming from the COVID-19 pandemic and changes in the economic conditions as a result thereof and risks relating to the Company’s pending transactions) are detailed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.
Press Release Category: Capital Markets
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Investor Contacts:
Investors@viciproperties.com
(646) 949-4631
Or
David Kieske
EVP, Chief Financial Officer
DKieske@viciproperties.com
Moira McCloskey
SVP, Capital Markets
MMcCloskey@viciproperties.com
LinkedIn:
www.linkedin.com/company/vici-properties-inc
Source: VICI Properties Inc.
FAQ
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