VICI Properties Inc. announced the successful closing of its public offering of $1.3 billion in aggregate principal amount of senior unsecured notes. The offering included $400.0 million of 4.750% senior notes due 2028 and $900.0 million of 5.625% senior notes due 2035. The weighted average interest rate for these notes, after accounting for hedging, is 5.342%.
The net proceeds from this offering were used to redeem approximately $1.3 billion of outstanding senior notes due in 2025. Specifically, $500.0 million of 4.375% notes and $800.0 million of 4.625% notes were repaid. This refinancing activity proactively addresses upcoming debt maturities and strengthens the company's balance sheet.
The successful execution of this bond offering, amidst market volatility, highlights VICI's diligent focus on balance sheet management. It ensures the company maintains strong liquidity and financial flexibility to support its investment strategies and long-term growth objectives, as noted by its Chief Financial Officer.
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