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First Industrial Realty Trust Closes on $300M Term Loan
Chicago-based First Industrial Realty Trust, Inc. closed on a new and undrawn $300-million unsecured term loan. The interest-only loan has an initial maturity date of August 12, 2025 with two one-year extension options.
The company plans to use the proceeds for general business purposes, including the acquisition and development of property.
U.S. Bank National Association, BofA Securities, PNC Capital Markets and Regions Capital Markets serve as the joint lead arrangers and joint book runners. U.S. Bank serves as the administrative agent and the sustainability structuring agent. Bank of America serves as the syndication agent. PNC Bank, National Association and Regions Bank serve as the co-documentation agents. JPMorgan Chase Bank also participated in the term loan.
“With an effective tenor of five years, this new term loan is an attractive source of capital that supports our growth including funding our profitable development pipeline,” said Scott Musil, First Industrial’s CFO.
- ◦Financing
