STAG Industrial, Inc., a real estate investment trust based in Boston, has successfully refinanced its senior unsecured revolving credit facility for $1 billion. The new facility will mature on September 8, 2028 and includes two options to extend for an additional six months.
According to STAG’s CFO Matts Pinard, this transaction was a success and has extended the company’s average debt maturity. He also expressed appreciation for the support of their debt capital partners and looks forward to continuing growth with them.
The left lead arranger and bookrunner for this transaction was Wells Fargo Securities while BofA Securities served as joint lead arranger and bookrunner. Other joint lead arrangers include Bank of Montreal, Citibank, PNC Capital Markets, Regions Capital Markets,TD Bank , The Huntington National Bank , Truist Bank ,and U.S.Bank . Raymond James Bank,Royal bank of Canada,and Associated bank were among other lenders involved in the deal.
In addition to successfully refinancing their credit facility,the second quarter results showed year-over-year increases in NOI (net operating income)and funds from operations(FFO). Photo credit goes VHT Studios.
