STAG Industrial moves loan interest rates to SOFR basis

Chicago, Sept. 8 – STAG Industrial, Inc. amended and restated three term loan agreements on Sept. 1 to move the interest rates to a SOFR basis, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings on all three loans will bear interest at one-month SOFR plus a 10 basis points spread adjustment and an 85 bps margin, based on the company’s debt rating and leverage ratio.

The loans amended include the $150 million facility maturing March 15, 2027 from Dec. 20, 2016 with Wells Fargo Bank, NA and other lenders; the $200 million term loan with Wells Fargo Bank, NA and other lenders maturing Jan. 12, 2025 dated July 12, 2019; and the $300 million term loan maturing Feb. 5, 2026 with Wells Fargo Bank, NA and other lenders dated April 17, 2020.

Other than the interest rates, there were no changes to the loans.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.