BOSTON, Feb. 8, 2021 /PRNewswire/ — STAG Industrial, Inc. (the “Firm”) (NYSE:STAG) now declared that it has amplified the potential of the Company’s unsecured credit score facility to $750 million and refinanced $300 million of expression financial loan financial debt.
The Organization exercised the accordion possibility of its unsecured credit rating facility potential and increased its borrowing capability from $500 million to $750 million with no change to pricing, maturity, and terms. The transaction bundled a reduction in the LIBOR ground from 25 basis points to zero basis points.
In addition, the Business refinanced the $300 million unsecured expression loan G, which was previously established to experienced in April 2021, in advance of extension selections. The refinanced term loan bears a latest curiosity amount of LIBOR additionally a distribute of 1.00%, a 50 foundation position unfold reduction from the previous time period bank loan, and matures on February 5, 2026.
“This transaction resulted in additional liquidity and enhanced pricing whilst extending our weighted average financial debt maturities,” mentioned Invoice Crooker, Main Monetary Officer of the Corporation. “We recognize the assist of our personal debt capital companions and search forward to doing work carefully with them as we go on to execute on our development strategies.”
Wells Fargo Securities, LLC served as Still left Guide Arranger and Bookrunner, with, BofA Securities, Inc., TD Securities LLC, Locations Money Marketplaces, PNC Funds Marketplaces, LLC, and Cash Just one N.A. serving as Joint Guide Arrangers. Other loan companies consist of Citibank, N.A., U.S. Lender, N.A., BMO Harris Lender N.A., Raymond James Lender, N.A., Truist Bank, Royal Financial institution of Canada, The Bank of East Asia, Minimal, Associated Bank, and American Discounts Bank, FSB.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate expense belief focused on the acquisition, possession and procedure of one-tenant, industrial qualities through the United States. As of September 30, 2020, the Company’s portfolio is made up of 462 buildings in 38 states with roughly 92.3 million rentable square ft.
For extra info, remember to stop by the Company’s web site at www.stagindustrial.com.
This push release, alongside one another with other statements and info publicly disseminated by the Company, includes certain ahead-on the lookout statements inside the this means of Section 27A of the Securities Act of 1933, as amended, and Segment 21E of the Securities Trade Act of 1934, as amended. The Enterprise intends these kinds of forward-searching statements to be included by the harmless harbor provisions for forward-on the lookout statements contained in the Private Securities Litigation Reform Act of 1995 and includes this assertion for functions of complying with these secure harbor provisions. Ahead-hunting statements, which are primarily based on selected assumptions and describe the Firm’s upcoming options, techniques and anticipations, are typically identifiable by use of the terms “believe that,” “will,” “assume,” “intend,” “anticipate,” “estimate,” “must,” “undertaking” or identical expressions. You should really not rely on forward-hunting statements considering the fact that they contain acknowledged and not known risks, uncertainties and other elements that are, in some scenarios, beyond the Company’s manage and which could materially have an impact on genuine benefits, performances or achievements. Things that may well cause true benefits to differ materially from recent anticipations involve, but are not constrained to, the Firm’s failure to negotiate definitive buy and sale agreements or to satisfy the closing conditions in acquire and sale agreements the effects of the COVID-19 pandemic and actions taken to consist of its unfold and the possibility variables mentioned in the Firm’s annual report on Variety 10-K for the year finished December 31, 2019 as updated by the Firm’s quarterly experiences on Kind 10-Q. Accordingly, there is no assurance that the Company’s expectations will be recognized. Apart from as otherwise demanded by the federal securities legislation, the Organization disclaims any obligation or enterprise to publicly launch any updates or revisions to any ahead-seeking assertion contained herein (or in other places) to reflect any alter in the Firm’s expectations with regard thereto or any improve in gatherings, problems or conditions on which any these kinds of statement is centered.
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