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Boston & New England  + Boston  + Industrial  |  September 11, 2024
Paul Bubny
By: Paul Bubny

STAG Industrial Refis $1B Credit Facility

Boston-based REIT STAG Industrial, Inc. has refinanced its $1-billion senior unsecured revolving credit facility. The refinanced revolving credit facility matures on Sept. 8, 2028, with two six-month extension options.

“This transaction was successful and resulted in extending our weighted average debt maturities,” said Matts Pinard, CFO at STAG. “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 served as left lead arranger and bookrunner, with BofA Securities serving as a joint lead arranger and bookrunner. Bank of Montreal, Citibank, PNC Capital Markets, Regions Capital Markets, TD Bank, The Huntington National Bank, Truist Bank and U.S. Bank served as joint lead arrangers. Other lenders include Raymond James Bank, Royal Bank of Canada and Associated Bank.

STAG reported year-over-year increases in NOI and funds from operations for the second quarter of 2024.

Photo credit: VHT Studios.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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