By Devika Patel
Knoxville, Tenn., April 11 – STAG Industrial, Inc. said it priced a $175 million private placement of senior unsecured notes.
The $75 million first-tranche note is due in seven years and accrues interest at 4.1% per year.
The $100 million second-tranche note is due in 10 years and accrues interest at 4.27% per year.
These issues have a weighted average fixed interest rate of 4.2%.
STAG is a Boston-based real estate investment trust.
| Issuer: | STAG Industrial, Inc.
|
| Issue: | Senior unsecured notes
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| Amount: | $175 million
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| Pricing dates: | April 11
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| Settlement dates: | June 13
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| Distribution: | Private placement
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|
|
| First tranche
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| Amount: | $75 million
|
| Maturity: | June 13, 2025
|
| Coupon: | 4.1%
|
|
|
| Second tranche
|
| Amount: | $100 million
|
| Maturity: | June 13, 2028
|
| Coupon: | 4.27%
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