BOSTON, Sept. 10,
2024 /PRNewswire/ -- STAG Industrial, Inc. (the
"Company") (NYSE:STAG) today announced that it refinanced its
$1 billion senior unsecured revolving
credit facility. The refinanced revolving credit facility matures
on September 8, 2028, with two
six-month extension options, subject to certain conditions and no
changes to pricing.
"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 U.S. Bank, N.A. served as Joint
Lead Arrangers. Other lenders include Raymond James Bank, N.A., Royal Bank of
Canada, and Associated Bank,
N.A.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust focused
on the acquisition, ownership, and operation of industrial
properties throughout the United
States. As of June 30, 2024,
the Company's portfolio consists of 573 buildings in 41 states with
approximately 114.1 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, 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.