VICI Properties Announces Pricing of Public Offering of $1.05 Billion of Senior Unsecured Notes

VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”) announced today that its subsidiary, VICI Properties L.P. (the “Issuer”), has priced a public offering of $1.05 billion in aggregate principal amount of senior unsecured notes (the “Notes”) consisting of:

• $550 million aggregate principal amount of 5.750% senior unsecured notes due 2034 (the “2034 Notes”). The 2034 Notes will be issued at 99.186% of par value and will mature on April 1, 2034.
• $500 million aggregate principal amount of 6.125% senior unsecured notes due 2054 (the “2054 Notes”). The 2054 Notes will be issued at 98.192% of par value and will mature on April 1, 2054.

Interest on the 2034 Notes and the 2054 Notes is payable in cash in arrears on April 1 and October 1 of each year, beginning on October 1, 2024. The offering is expected to close on March 18, 2024, subject to the satisfaction of customary closing conditions.

The Issuer intends to use the net proceeds from the offering to repay its outstanding (i) $1,024.2 million in aggregate principal amount of the 5.625% senior exchange notes due 2024 and (ii) $25.8 million in aggregate principal amount of the 5.625% senior notes due 2024.

Wells Fargo Securities, J.P. Morgan, BofA Securities, Goldman Sachs & Co. LLC, Barclays, BNP PARIBAS, Citigroup, Citizens Capital Markets, Deutsche Bank Securities, Morgan Stanley, Scotiabank and Truist Securities are acting as joint book-running managers for the offering. Capital One Securities, Mizuho and SMBC Nikko are acting as senior co-managers for the offering, and Keybanc Capital Markets and Raymond James are acting as co-managers for the offering.

The offering is being made pursuant to an effective shelf registration statement filed by the Company and the Issuer with the Securities and Exchange Commission (the “SEC”) and only by means of a prospectus and prospectus supplement. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from: Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service (telephone: [phone] or email: [e-mail]); J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor (telephone: [phone]); BofA Securities, Inc., 201 North Tryon Street, NC1-022-02-25, Charlotte NC 28255-0001, Attn: Prospectus Department (telephone: [phone] or email: [e-mail]); or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282 (telephone: [phone] or email: [e-mail]), or by visiting the EDGAR database on the SEC’s web site at www.sec.gov.