Simpson Thacher represented JPMorgan Chase Bank, N.A., as Administrative Agent, in connection with a $3.5 billion senior unsecured revolving credit facility consisting of a four-year $2.5 billion senior unsecured revolving credit facility and a three-year $1 billion senior unsecured delayed draw term loan facility (the “Senior Unsecured Credit Facility”) for VICI Properties Inc. (“VICI”). The closing of the new Senior Unsecured Credit Facility terminated VICI’s existing $1 billion secured revolving credit facility.
VICI (NYSE:VICI) is an experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality and entertainment destinations, including the world-renowned Caesars Palace. VICI’s national, geographically diverse portfolio consists of 27 gaming facilities comprising more than 46 million square feet and features approximately 17,800 hotel rooms and more than 200 restaurants, bars, nightclubs and sportsbooks.
The Simpson Thacher team included Patrick Ryan, Jessica Tuchinsky, Mike Ratay and Paige Brinton (Banking and Credit); Michael Mann and Shoshanna Schorr (Tax); Genevieve Dorment and Mark Natividad (IP); Timothy Gallagher (Real Estate); Pasco Struhs (ECEB); and Timothy Mulvihill (Environmental).