STAG INDUSTRIAL REFINANCES $1 BILLION UNSECURED CREDIT FACILITY
STAG Industrial (NYSE:STAG) has successfully refinanced its $1 billion senior unsecured revolving credit facility. The new facility matures on September 8, 2028, with two six-month extension options, maintaining the same pricing terms. CFO Matts Pinard highlighted that this transaction has extended the company's weighted average debt maturities.
The refinancing involved several major financial institutions, with Wells Fargo Securities, as the Left Lead Arranger and Bookrunner, and BofA Securities, Inc. as a Joint Lead Arranger and Bookrunner. Other participating institutions include Bank of Montreal, Citibank, PNC Capital Markets, Regions Capital Markets, TD Bank, The Huntington National Bank, Truist Bank, and U.S. Bank, among others.
STAG Industrial (NYSE:STAG) ha rifinanziato con successo la sua linea di credito revolving senior non garantita da 1 miliardo di dollari. La nuova linea scade l'8 settembre 2028, con due opzioni di estensione di sei mesi, mantenendo gli stessi termini di prezzo. Il CFO Matts Pinard ha sottolineato che questa operazione ha prolungato le scadenze medie ponderate del debito dell'azienda.
Il rifinanziamento ha coinvolto diverse importanti istituzioni finanziarie, con Wells Fargo Securities, come Lead Arranger e Bookrunner principale, e BofA Securities, Inc. come Joint Lead Arranger e Bookrunner. Tra le altre istituzioni partecipanti figurano Bank of Montreal, Citibank, PNC Capital Markets, Regions Capital Markets, TD Bank, The Huntington National Bank, Truist Bank e U.S. Bank, tra gli altri.
STAG Industrial (NYSE:STAG) ha refinanciado con éxito su línea de crédito revolving senior no garantizada de 1 mil millones de dólares. La nueva línea vence el 8 de septiembre de 2028, con dos opciones de extensión de seis meses, manteniendo los mismos términos de precios. El CFO Matts Pinard destacó que esta transacción ha extendido los plazos promedio ponderados de la deuda de la empresa.
El refinanciamiento involucró a varias instituciones financieras importantes, con Wells Fargo Securities, como el Lead Arranger y Bookrunner principal, y BofA Securities, Inc. como Joint Lead Arranger y Bookrunner. Otras instituciones participantes incluyen Bank of Montreal, Citibank, PNC Capital Markets, Regions Capital Markets, TD Bank, The Huntington National Bank, Truist Bank y U.S. Bank, entre otros.
STAG Industrial (NYSE:STAG)은 10억 달러 규모의 비보장 선순위 회전신용담보를 성공적으로 재융자했습니다. 새로운 신용 시설은 2028년 9월 8일 만료되며, 두 개의 6개월 연장 옵션이 있어 동일한 가격 조건을 유지합니다. CFO Matts Pinard는 이 거래가 회사의 가중 평균 부채 만기를 연장시켰다고 강조했습니다.
이번 재융자는 여러 주요 금융 기관이 참여했으며, Wells Fargo Securities가 주관사이자 북런너로, BofA Securities, Inc.가 공동 주관사이자 북런너로 참여했습니다. 그 외에도 Bank of Montreal, Citibank, PNC Capital Markets, Regions Capital Markets, TD Bank, The Huntington National Bank, Truist Bank 및 U.S. Bank 등이 포함됩니다.
STAG Industrial (NYSE:STAG) a réussi à refinancer sa ligne de crédit revolving senior non garantie de 1 milliard de dollars. La nouvelle ligne arrive à échéance le 8 septembre 2028, avec deux options de prolongation de six mois, maintenant les mêmes conditions tarifaires. Le CFO Matts Pinard a souligné que cette transaction a prolongé les échéances moyennes pondérées de la dette de l'entreprise.
Le refinancement a impliqué plusieurs grandes institutions financières, avec Wells Fargo Securities comme arrangeur principal et bookrunner, et BofA Securities, Inc. en tant qu'arrangeur associé et bookrunner. Parmi les autres institutions participantes figurent Bank of Montreal, Citibank, PNC Capital Markets, Regions Capital Markets, TD Bank, The Huntington National Bank, Truist Bank et U.S. Bank, entre autres.
STAG Industrial (NYSE:STAG) hat erfolgreich seine 1 Milliarde US-Dollar umfassende unbesicherte revolvierende Kreditfazilität refinanziert. Die neue Fazilität läuft am 8. September 2028 aus und bietet zwei Optionen zur Verlängerung um jeweils sechs Monate, wobei die gleichen Preisbedingungen beibehalten werden. CFO Matts Pinard hob hervor, dass diese Transaktion die gewichteten durchschnittlichen Laufzeiten der Unternehmensschulden verlängert hat.
Die Refinanzierung umfasste mehrere große Finanzinstitute, mit Wells Fargo Securities als Lead Arranger und Bookrunner sowie BofA Securities, Inc. als Joint Lead Arranger und Bookrunner. Zu den anderen teilnehmenden Institutionen gehören die Bank of Montreal, Citibank, PNC Capital Markets, Regions Capital Markets, TD Bank, The Huntington National Bank, Truist Bank und U.S. Bank sowie weitere.
- Successful refinancing of $1 billion revolving credit facility
- Extended maturity date to September 8, 2028, with two six-month extension options
- Maintained same pricing terms as previous facility
- Extended weighted average debt maturities
- None.
Insights
STAG Industrial's $1 billion credit facility refinancing is a strategic move that strengthens the company's financial position. The extended maturity to September 2028, with additional extension options, provides enhanced flexibility and stability. This refinancing likely improves the company's debt profile by extending the weighted average debt maturities, potentially reducing near-term refinancing risks.
The unchanged pricing terms suggest the company has maintained its creditworthiness in the eyes of lenders, which is positive given the current economic climate. The broad syndicate of reputable financial institutions involved in this transaction indicates strong market confidence in STAG's business model and future prospects. For investors, this refinancing represents a positive development, as it enhances the company's financial stability and positions it well for future growth opportunities in the industrial real estate sector.
This refinancing underscores STAG Industrial's solid standing in the REIT market. As an industrial REIT, STAG's ability to secure a $1 billion revolving credit facility with favorable terms reflects the ongoing strength and attractiveness of the industrial real estate sector. The extended maturity and unchanged pricing are particularly noteworthy, given the current interest rate environment and economic uncertainties.
For investors, this move signals STAG's proactive approach to capital management and its ability to leverage strong relationships with financial institutions. The extended credit facility provides STAG with ample liquidity to pursue acquisition opportunities or fund development projects, which is important for REITs to drive growth and increase shareholder value. Overall, this refinancing reinforces STAG's position as a well-managed industrial REIT with a solid financial foundation for future expansion.
"This transaction was successful and resulted in extending our weighted average debt maturities," said Matts Pinard, Chief Financial Officer of the Company. "We appreciate the support of our debt capital partners and look forward to working closely with them as we continue to drive growth further."
Wells Fargo Securities, LLC served as Left Lead Arranger and Bookrunner, with BofA Securities, Inc. serving as a Joint Lead Arranger and Bookrunner. Bank of Montreal, Citibank, N.A, PNC Capital Markets LLC, Regions Capital Markets, TD Bank, N.A., The Huntington National Bank, Truist Bank, and
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership, and operation of industrial properties throughout
For additional information, please visit the Company's website at www.stagindustrial.com.
Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's annual report on Form 10-K for the year ended December 31, 2023, as updated by the Company's quarterly reports on Form 10-Q. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based.
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SOURCE STAG Industrial, Inc.
FAQ
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