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VICI Properties unit secures $500M of interest-rate swap agreements

VICI Properties Inc. subsidiary VICI Properties 1 LLC entered into interest rate swap agreements with Citibank NA and J. Aron & Co. LLC for $500.0 million of its existing debt under its current credit facility.

The swap transactions run from Jan. 22, 2019, through Jan. 22, 2021, and fix the London interbank offered rate portion of the debt at a blended rate of 2.38%.

The unit of the casino real estate investment trust had previously entered into interest-swaps on $1.5 billion of its debt in April 2018.