STAG Industrial To Issue $325 Million Of Senior Unsecured Notes

Rhea-AI Summary

STAG Industrial (NYSE: STAG) has announced a note purchase agreement to issue $325 million in fixed rate senior unsecured notes. The issuance includes $275 million in 2.80% notes maturing on September 29, 2031, and $50 million in 2.95% notes maturing on September 28, 2033. The offering, expected to close on or around September 28, 2021, will not be registered under the Securities Act of 1933. As of March 31, 2021, STAG's portfolio consists of 494 buildings across 39 states, totaling approximately 99.1 million rentable square feet.

Positive

• Issuance of $325 million in senior unsecured notes enhances capital structure.
• Notes have competitive interest rates of 2.80% and 2.95%.

Negative

• Notes not registered under Securities Act may limit marketability.
• Future financial performance dependent on management's forward-looking statements, which involve inherent risks.

BOSTON, July 8, 2021 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE:STAG) today announced that it entered into a note purchase agreement to issue $325 million of fixed rate senior unsecured notes in a private placement offering with a weighted average interest rate of 2.82% as of the issuance date. The transaction consists of $275 million of 2.80% notes with a ten-year term maturing on September 29, 2031, and $50 million of 2.95% notes with a twelve-year term maturing on September 28, 2033.

The Company anticipates closing the offering on or about September 28, 2021.

The notes have not been and will not be registered under the Securities Act of 1933 or the securities laws of any state or other jurisdiction and may not be offered or sold in the United States or any other jurisdiction absent registration or an exemption from the registration requirements of the Securities Act of 1933 and the applicable securities laws of any state or other jurisdiction.

About STAG Industrial, Inc. 

STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. As of March 31, 2021, the Company's portfolio consists of 494 buildings in 39 states with approximately 99.1 million rentable square feet. 

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, 2020 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.

Source: STAG Industrial, Inc. 

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SOURCE STAG Industrial, Inc.

FAQ

What is STAG Industrial's recent financial move?

STAG Industrial announced a note purchase agreement to issue $325 million in senior unsecured notes.

What are the terms of the senior unsecured notes issued by STAG?

The notes consist of $275 million in 2.80% notes maturing on September 29, 2031, and $50 million in 2.95% notes maturing on September 28, 2033.

When does STAG Industrial expect to close the note offering?

The company anticipates closing the offering on or about September 28, 2021.

What is the current portfolio size of STAG Industrial?

As of March 31, 2021, STAG's portfolio includes 494 buildings across 39 states, totaling approximately 99.1 million rentable square feet.