STAG Industrial Successfully Refinances $1 Billion Credit Facility

Author: Dominic Sanders Updated: 09-10-2024 04:45 PM

STAG Industrial's Strategic Refinancing Move

STAG Industrial, Inc. has recently made waves in the financial markets by refinancing its substantial $1 billion senior unsecured revolving credit facility. This decisive action reflects the company's proactive approach to managing debt and optimizing its capital structure.

Details of the Refinancing

This refinancing arrangement includes a new maturity date set for 2028, with the option to extend for two additional six-month periods. This flexibility provides the company with an opportunity to plan its financial commitments effectively while maintaining favorable borrowing terms.

Statements from Leadership

Matts Pinard, the Chief Financial Officer, expressed satisfaction with this strategic move, highlighting the positive impact it will have on their weighted average debt maturities. Pinard stated, "We appreciate the support of our debt capital partners and look forward to working closely with them as we continue to drive growth further." This commitment to growth underscores STAG Industrial's focus on expanding its industrial portfolio across the nation.

Involvement of Financial Institutions

Wells Fargo Securities, LLC played a pivotal role as the Left Lead Arranger and Bookrunner in this refinancing. Other notable contributors include BofA Securities, which also served as a Joint Lead Arranger, and numerous banks such as Bank of Montreal, Citibank, N.A., and Truist Bank. Their collaboration signifies strong investor confidence in STAG Industrial's business model.

Overview of STAG Industrial, Inc.

STAG Industrial, Inc. operates as a real estate investment trust (REIT) specializing in the acquisition and management of industrial properties. With a diverse portfolio that encompasses 573 buildings spanning 41 states, they manage approximately 114.1 million rentable square feet of space. This extensive footprint positions STAG Industrial as a significant player in the U.S. industrial real estate sector.

Future Growth Prospects

The refinancing not only strengthens the company's financial standing but also enhances its capability to seize new growth opportunities. With a solid foundation and access to capital, STAG Industrial is well-positioned to advance its mission of expanding its industrial portfolio, thereby contributing significantly to the real estate market.

Frequently Asked Questions

What is STAG Industrial's recent refinancing amount?

STAG Industrial recently refinanced a $1 billion credit facility to improve its financial position.

What is the maturity date of the refinanced credit facility?

The refinanced revolving credit facility will mature on September 8, 2028, with options for extensions.

Who led the refinancing efforts for STAG Industrial?

Wells Fargo Securities, LLC was the Left Lead Arranger and Bookrunner for this refinancing transaction.

How does this refinancing impact STAG Industrial's growth plans?

This strategic refinancing enhances STAG Industrial's financial flexibility, allowing it to pursue further growth and acquisitions in the industrial property sector.

What is STAG Industrial, Inc.'s primary business focus?

STAG Industrial is primarily focused on the acquisition and management of industrial properties across the United States.

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