STAG Industrial, Inc., a real estate investment trust based in Boston, has successfully refinanced its senior unsecured revolving credit facility worth $1 billion. The new facility will mature on September 8, 2028 and includes two six-month extension options.
According to STAG’s CFO Matts Pinard, this transaction was successful in extending the company’s weighted average debt maturities. He also expressed appreciation for the support of their debt capital partners and looks forward to working closely with them as they continue driving growth.
The left lead arranger and bookrunner for this transaction was Wells Fargo Securities while BofA Securities served as a joint lead arranger and bookrunner. Other lenders involved include Bank of Montreal, Citibank, PNC Capital Markets,
Regions Capital Markets,TD Bank,
The Huntington National Bank,
Truist Bank,and U.S. Bank who all served as joint lead arrangers.
Additional lenders included Raymond James Bank,Royal Bank of Canada,and AssociatedBank.
In other news from STAG Industrial,the company reported year-over-year increases in net operating income (NOI)and funds from operations (FFO)for the second quarter of 2024.The photo accompanying this article is credited to VHT Studios.
