VICI Properties L.P. completes $1.75 billion notes offering to refinance debt

VICI Properties L.P., a subsidiary of VICI Properties Inc., has successfully completed a $1.75 billion notes offering to refinance its debt. The company issued $900 million in 5.400% notes due in 2031 and $850 million in 5.750% notes due in 2036. The net proceeds from the offering will be used to repay outstanding senior notes maturing in 2026.

This debt refinancing comes amidst a challenging market for VICI Properties, which is currently trading near its 52-week low at $26.36. Despite this, the company's stock appears undervalued according to InvestingPro analysis, presenting an opportunity for investors seeking exposure to the specialized REIT sector. The offering also includes a dividend yield of 6.83%, which is noteworthy for income-focused investors.

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