WASHINGTON (dpa-AFX) - VICI (VICI) Properties' subsidiary, VICI LP, secured a new $500 million unsecured term loan maturing on January 31, 2032. The loan initially carries an interest rate of SOFR plus 0.90%, with potential rate reductions based on the company's credit ratings and leverage ratio.
VICI LP borrowed the full $500 million to partially repay and refinance its 5.75% notes due February 2027.
It also entered into swap agreements to fix the loan's effective interest rate at approximately 5.20%.
Additionally, the company lowered the interest rate on its existing $2.5 billion revolving credit facility from SOFR plus 0.85% to SOFR plus 0.80%, without changing its size or maturity.
On the NYSE, the shares are trading 0.46 percent up at $24.92.
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