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Debt (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Schedule of Debt | The following tables detail our debt obligations as of June 30, 2020 and December 31, 2019:
($ in thousands) |  | June 30, 2020 |  |  |  |  |  |
Description of Debt |  | Final Maturity |  | Interest Rate |  | Face Value |  | Carrying Value(1)
VICI PropCo Senior Secured Credit Facilities |  |  |  |  |  |  |  |
Revolving Credit Facility (2) |  | 2024 |  | L + 2.00% |  | $ | — |  |  | $ | — |
Term Loan B Facility (3) |  | 2024 |  | L + 1.75% |  | 2,100,000 |  |  | 2,078,545 |
Senior Unsecured Notes (4) |  |  |  |  |  |  |  |
2025 Notes |  | 2025 |  | 3.500% |  | 750,000 |  |  | 739,165 |
2026 Notes |  | 2026 |  | 4.250% |  | 1,250,000 |  |  | 1,231,692 |
2027 Notes |  | 2027 |  | 3.750% |  | 750,000 |  |  | 738,899 |
2029 Notes |  | 2029 |  | 4.625% |  | 1,000,000 |  |  | 984,930 |
2030 Notes |  | 2030 |  | 4.125% |  | 1,000,000 |  |  | 984,901 |
Total Debt |  |  |  |  |  | $ | 6,850,000 |  |  | $ | 6,758,132 |
($ in thousands) |  | December 31, 2019 |  |  |  |  |  |
Description of Debt |  | Final Maturity |  | Interest Rate |  | Face Value |  | Carrying Value(1)
VICI PropCo Senior Secured Credit Facilities |  |  |  |  |  |  |  |
Revolving Credit Facility (2) |  | 2024 |  | L + 2.00% |  | $ | — |  |  | $ | — |
Term Loan B Facility (3) |  | 2024 |  | L + 2.00% |  | 2,100,000 |  |  | 2,076,962 |
Second Lien Notes (5) |  | 2023 |  | 8.00% |  | 498,480 |  |  | 498,480 |
Senior Unsecured Notes (4) |  |  |  |  |  |  |  |
2026 Notes |  | 2026 |  | 4.250% |  | 1,250,000 |  |  | 1,231,227 |
2029 Notes |  | 2029 |  | 4.625% |  | 1,000,000 |  |  | 984,894 |
Total Debt |  |  |  |  |  | $ | 4,848,480 |  |  | $ | 4,791,563 |
____________________ (1)Carrying value is net of unamortized original issue discount and unamortized debt issuance costs incurred in conjunction with debt. (2)Interest on any outstanding balance is payable monthly. On May 15, 2019, we amended our Revolving Credit Facility to, among other things, increase borrowing capacity by $600.0 million to a total of $1.0 billion and extend the maturity date to May 2024. After giving effect to the amendments executed on May 15, 2019, borrowings under the Revolving Credit Facility will bear interest at a rate based on a leverage-based pricing grid with a range of 1.75% to 2.00% over LIBOR, or between 0.75% and 1.00% over the base rate depending on our total net debt to adjusted total assets ratio. Additionally, after giving effect to the amendments executed on May 15, 2019, the commitment fee under the Revolving Credit Facility is calculated on a leverage-based pricing grid with a range of 0.375% to 0.5%, in each case depending on our total net debt to adjusted total assets ratio. For the three and six months ended June 30, 2020, the commitment fee was 0.375%. (3)Interest on any outstanding balance is payable monthly. In connection with the repricing of the Term Loan B Facility in January 2020, the interest rate was decreased to LIBOR plus 1.75%. As of June 30, 2020 and December 31, 2019, we had six interest rate swap agreements outstanding with third-party financial institutions having an aggregate notional amount of $2.0 billion at a blended LIBOR rate of 2.7173%. (4)Interest is payable semi-annually. (5)The Second Lien Notes were redeemed in full on February 20, 2020 with a portion of the proceeds from the February 2020 Senior Unsecured Notes offering.
Schedule of Contractual Obligation, Fiscal Year Maturity Schedule | The following table is a schedule of future minimum payments of our debt obligations as of June 30, 2020:
(In thousands) |  | Future Minimum Payments
2020 (remaining) |  | $ | — |
2021 |  | — |
2022 |  | 10,000 |
2023 |  | 22,000 |
2024 |  | 2,068,000 |
2025 |  | 750,000 |
Thereafter |  | 4,000,000 |
Total minimum repayments |  | $ | 6,850,000 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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