NEW YORK–(COMMERCIAL THREAD) – VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today announced that the Company has used the net proceeds of the issuance of 65,000,000 ordinary shares of the Company completed on September 14, 2021 and the proceeds from the settlement of the forward sales contract entered into in June 2020 (representing 26,900,000 ordinary shares of the Company) to fully repay approximately 2,102.5 million dollars in existing debt, including accrued interest, under the seven senior secured senior secured B term loan facility (the “B term loan facility”) originally entered into in December 2017. In the As part of the repayment of the B Term Loan Facility, the related interest rate swap contracts were also terminated and the breach charge of approximately $ 66.9 million. The Company’s five-year senior revolving credit facility, originally entered into in December 2017, remains in place and is unused after the repayment of term loan facility B.
“The repayment of the Term Loan Facility B cancels all of the secured debt on VICI Properties’ balance sheet, ”said David Kieske, CFO of VICI Properties. “Since VICI’s inception approximately four years ago, we have been committed to pursuing an investment grade capital structure and this repayment of the guaranteed B term loan facility continues VICI’s track record in capital allocation. disciplined and ultimate goal of achieving an investment grade rating.
About VICI Properties
VICI Properties Inc. is an experiential real estate investment trust with one of the largest portfolios of leading gaming, hospitality and entertainment destinations in the market, including the world-renowned Caesars Palace. VICI Properties’ national and geographically diverse portfolio comprises 28 gaming facilities representing more than 47 million square feet and includes approximately 17,800 hotel rooms and more than 200 restaurants, bars, nightclubs and sports betting. Its properties are leased to major gaming and hospitality operators including Caesars Entertainment, Inc., Century Casinos, Inc., Eastern Band of Cherokee Indians, Hard Rock International Inc., JACK Entertainment LLC and Penn National Gaming, Inc. VICI Properties also has an investment in the Chelsea Piers, New York facility, and owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip. VICI Properties’ strategy is to create the highest quality and most productive experiential real estate portfolio in the country.
This press release contains forward-looking statements within the meaning of federal securities laws. You can identify these statements by using the words “assume”, “believes”, “believes”, “expects”, “direction”, “intention”, “plans”, “projects” and similar expressions that do not relate to historical questions. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements, as they involve known and unknown risks, uncertainties and other factors which, in some cases, are beyond the control of the Company and could materially affect actual results, performance or achievements. Significant risk factors that may affect the business, results of operations and financial condition of the Company (including those arising from the COVID-19 pandemic and changes in economic conditions as a result) are detailed from time to time. other in the documents filed by the Company with the Securities. and Exchange Commission and include, among other things, the risks associated with the method of settlement of the Company’s forward sales contracts, the form and amount of the proceeds of such settlement and the ability to complete the acquisition of land and assets. real estate associated with the property known as The Venetian Resort and The Venetian Expo in Las Vegas, Nevada. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.