VICI Properties redeems all 8% second-lien notes due 2023

By Wendy Van Sickle

Columbus, Ohio, Feb. 20 – VICI Properties Inc. said that its indirect wholly owned subsidiaries VICI Properties 1 LLC and VICI FC Inc. have completed the redemption of their 8% senior secured second-lien notes due 2023.

The notes were redeemed at par plus a make-whole premium plus accrued interest to the redemption date of Feb. 20, according to a news release.

“The redemption of our 8% second-lien notes removes the last tranche of secured emergence debt from our balance sheet and simplifies our capital structure,” David Kieske, executive vice president and chief financial officer of VICI Properties, said in the release. “This redemption significantly lowers our cost of capital, extends our maturity profile and furthers our goal of ultimately becoming investment grade.”

VICI Properties is a Las Vegas-based real estate investment trust that owns gaming, hospitality and entertainment destinations.

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