VICI Properties Inc. Enters Material Definitive Agreement
Ticker: VICI · Form: 8-K · Filed: Dec 19, 2024 · CIK: 1705696
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: VICI
TL;DR
VICI Properties Inc. just signed a big deal, creating a new financial obligation.
AI Summary
On December 19, 2024, VICI Properties Inc. entered into a material definitive agreement, creating a direct financial obligation. The filing details financial statements and exhibits related to this agreement.
Why It Matters
This filing indicates a significant new financial commitment or obligation for VICI Properties Inc., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet them.
Key Players & Entities
- VICI PROPERTIES INC. (company) — Filer
- VICI Properties L.P. (company) — Filer
- December 19, 2024 (date) — Filing Date
FAQ
What type of material definitive agreement did VICI Properties Inc. enter into?
The filing indicates the entry into a material definitive agreement but does not specify the exact nature of the agreement in the provided text.
What is the nature of the direct financial obligation created?
The filing states that a direct financial obligation has been created, but the specific details of this obligation are not detailed in the provided text.
What are the key financial statements and exhibits included with this filing?
The filing mentions that financial statements and exhibits are included, but their specific content is not detailed in the provided text.
What is the SEC file number for VICI Properties Inc.'s 8-K filing?
The SEC file number for VICI Properties Inc. is 001-38372.
What is the Central Index Key for VICI Properties Inc.?
The Central Index Key for VICI Properties Inc. is 0001705696.
Filing Stats: 1,293 words · 5 min read · ~4 pages · Grade level 9.7 · Accepted 2024-12-19 16:15:32
Key Financial Figures
- $0.01 — ge on which registered Common stock, $0.01 par value VICI New York Stock Excha
- $750,000,000 — ed the previously announced offering of $750,000,000 aggregate principal amount of 5.125% No
- $750.0 million — m the offering to repay its outstanding $750.0 million in aggregate principal amount of 3.500%
Filing Documents
- tm2431539d1_8k.htm (8-K) — 42KB
- tm2431539d1_ex4-2.htm (EX-4.2) — 232KB
- 0001104659-24-130170.txt ( ) — 537KB
- vici-20241219.xsd (EX-101.SCH) — 3KB
- vici-20241219_def.xml (EX-101.DEF) — 26KB
- vici-20241219_lab.xml (EX-101.LAB) — 35KB
- vici-20241219_pre.xml (EX-101.PRE) — 24KB
- tm2431539d1_8k_htm.xml (XML) — 5KB
01
Item 1.01 Entry into a Material Definitive Agreement. On December 19, 2024, VICI Properties L.P., a Delaware limited partnership ("VICI LP"), completed the previously announced offering of $750,000,000 aggregate principal amount of 5.125% Notes due 2031 (the "Notes"). VICI LP intends to use the net proceeds from the offering to repay its outstanding $750.0 million in aggregate principal amount of 3.500% senior notes due 2025 (the "2025 Notes"). VICI LP expects to redeem the 2025 Notes on December 20, 2024 at a redemption price equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued interest to the redemption date. The 2025 Notes bear interest at 3.500% per annum and mature on February 15, 2025. The Notes were issued pursuant to an Indenture, dated as of April 29, 2022 (the "Base Indenture"), between VICI LP, as issuer, and UMB Bank, National Association, as trustee (the "Trustee"), as supplemented by a Third Supplemental Indenture, dated as of December 19, 2024 (the "Third Supplemental Indenture" and, together with the Base Indenture, the "Indenture"), between VICI LP and the Trustee. The Notes were issued at 99.643% of par value with a coupon of 5.125% per annum. Interest on the Notes is payable semi-annually in arrears on May 15 and November 15 of each year, commencing on May 15, 2025. The Notes will mature on November 15, 2031. The Notes are VICI LP's unsecured and unsubordinated obligations and rank equally in right of payment with all of VICI LP's existing and future unsecured and unsubordinated indebtedness. The Notes are not guaranteed by VICI Properties Inc., a Maryland corporation (the "Company"). As of the issue date, the Notes are not guaranteed by any subsidiary of VICI LP. However, under limited circumstances, the Indenture requires certain of VICI LP's subsidiaries to guarantee the obligations under the Notes in the future if, and for so long as, any such subsidiary guarantees VICI LP's obligations under the
03
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of the Registrant. The disclosure under Item 1.01 is incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.1 Indenture, dated as of April 29, 2022, between VICI Properties L.P. and UMB Bank, National Association, as trustee. Filed with VICI LP's Current Report on Form 8-K dated April 29, 2022 and incorporated by reference herein. 4.2 Third Supplemental Indenture, dated as of December 19, 2024, between VICI Properties L.P. and UMB Bank, National Association, as trustee. 4.3 Form of Global Note representing the 5.125% Senior Notes due 2031 (included in Exhibit 4.2). 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 19, 2024 VICI PROPERTIES INC. By: /s/ Samantha S. Gallagher Samantha S. Gallagher Executive Vice President, General Counsel and Secretary Date: December 19, 2024 VICI PROPERTIES L.P. By: /s/ Samantha S. Gallagher Samantha S. Gallagher Secretary