By Lisa Kerner
Charlotte, N.C., April 2 - STAG Industrial, Inc. agreed in principle to price a $100 million private placement of senior notes, according to a company news release.
The notes will consist of $50 million of 10-year notes and $50 million of 12-year notes.
Borrowings under the notes will bear interest at a fixed rate of 4.98%.
The 12-year notes are expected to be drawn on July 1, and the 10-year notes are expected to be drawn on Oct. 1.
The notes have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration.
STAG is a Boston-based real estate company.
| Issuer: | STAG Industrial, Inc.
|
| Issue: | Senior notes
|
| Amount: | $100 million
|
| Coupon: | 4.98%
|
| Pricing date: | April 2
|
| Distribution: | Private placement
|
|
|
| 10-year notes
|
| Amount: | $50 million
|
| Maturity: | 10 years
|
| Settlement date: | Oct. 1
|
|
|
| 12-year notes
|
| Amount: | $50 million
|
| Maturity: | 12 years
|
| Settlement date: | July 1
|
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