STAG Industrial increases credit facility, refinances term loan

By Taylor Fox

New York, Feb. 8 – STAG Industrial, Inc. increased the capacity of its unsecured credit facility to $750 million and refinanced $300 million of term loan debt, according to a news release.

STAG exercised the accordion option of its unsecured credit facility and increased its borrowing capacity to $750 million from $500 million with no change to pricing, maturity and terms. The transaction included a reduction in the Libor floor from 25 basis points to zero bps.

STAG also refinanced the $300 million unsecured term loan G, which was previously set to mature in April.

The refinanced term loan bears a current interest rate of Libor plus a spread of 100 bps, a 50 bps spread reduction from the previous term loan, and matures on Feb. 5, 2026.

Wells Fargo Securities, LLC is the left lead arranger and bookrunner.

BofA Securities, Inc., TD Securities LLC, Regions Capital Markets, PNC Capital Markets, LLC and Capital One NA are joint lead arrangers. Citibank, NA, U.S. Bank, NA, BMO Harris Bank NA, Raymond James Bank, NA Truist Bank, Royal Bank of Canada, Bank of East Asia, Ltd., Associated Bank, and American Savings Bank, FSB are also lenders.

STAG Industrial is a Boston-based real estate investment trust focused on single-tenant industrial properties.

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