VICI Properties withdraws $2.1 billion term loan repricing from market

By Sara Rosenberg

New York, May 30 – VICI Properties Inc. decided to postpone the repricing of its $2.1 billion first-lien term loan due Dec. 22, 2024 due to market conditions, according to a market source.

The repricing was talked at Libor plus 175 basis points with a 0% Libor floor, a par issue price and 101 soft call protection for six months.

Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Barclays were the joint lead arrangers on the deal. Citizens Bank, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and UBS Investment Bank were the co-arrangers.

The repricing would have taken the term loan down from Libor plus 200 bps with a 0% Libor floor.

The company was also planning on repricing its $400 million revolver.

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

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