Gaming and casino REIT VICI Properties $VICI (+2.4%) announced on Wednesday the pricing of a public offering of $1.3 billion of senior unsecured notes in two tranches.
The first tranche has an aggregate principal amount of $400 million of 4.750% senior unsecured notes due April 1, 2028.
The second tranche consists of $900 million aggregate principal amount of 5.625% senior unsecured notes maturing on April 1, 2035.
Interest on the bonds is payable in cash in arrears on April 1 and October 1 of each year, starting on October 1, 2025.
The offering is expected to close on April 7 and the net proceeds will be used to redeem all or a portion of certain outstanding bonds and for general corporate purposes.