VICI Properties Inc. announced the effectiveness of a new $2.5 billion multicurrency unsecured revolving credit facility, replacing its previous facility of the same size. The new facility matures on February 3, 2029, and includes options for two successive six-month extensions or one twelve-month extension. This extends the company's debt maturity profile and enhances its long-term financial planning.
The revolving credit facility currently bears interest at a rate of 85.0 basis points over the SOFR rate, or the corresponding index rate for foreign currency borrowings, based on VICI's current credit ratings and leverage ratios. A facility fee of 20.0 basis points of total commitments is also applicable. The company retains an option to increase the facility by up to $1.0 billion, providing additional capital flexibility.
This new credit facility, which was substantially oversubscribed with strong support from 15 financial institutions, maintains VICI's depth of liquidity and multicurrency financing capabilities. It positions the company to capitalize on potential investment opportunities with its investment-grade balance sheet, reinforcing its financial strength.
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