Lindsay places $115 million of notes; STAG Industrial issues notes totaling $120 million

By Lisa Kerner

Charlotte, N.C., Feb. 20 – Lindsay Corp. issued and sold $115 million of 15-year 3.82% senior notes, series A, on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds will be used for general corporate purposes, including for acquisitions, dividends and share repurchases.

The notes have a make-whole call at Treasuries plus 50 basis points.

Olathe, Kan.-based Lindsay manufactures and markets irrigation equipment used in agricultural markets.

STAG Industrial, Inc. completed a private placement of $120 million of senior notes on Friday.

The notes were issued as $100 million of 4.32% senior notes, series B, due Feb. 20, 2025 and $20 million of 4.42% senior notes, series C, due Feb. 20, 2027.

It is the second issuance under the company’s $200 million note purchase agreement announced in December. The company sold $80 million of 4.42% senior notes, series A, due 2026 on Dec. 30.

The notes have a make-whole call at Treasuries plus 50 basis points.

STAG Industrial is a Boston-based real estate company.

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