- STAG Industrial (NYSE:STAG) entered into a note purchase agreement to issue $450M of fixed rate senior unsecured notes in a private placement offering with a weighted average fixed interest rate of 6.17%.
- The transaction consists of $175M of 6.05% notes with a five-year term maturing on May 28, 2029; $125M of 6.17% notes with a seven-year term maturing on May 28, 2031; and $150M of 6.30% notes with a ten-year term maturing on May 28, 2034.
- The company anticipates closing the offering on May 28, 2024.
- In addition, the company refinanced a $200 million unsecured term loan that was set to mature in January 2025. The term loan now matures March 25, 2027, with two one-year extension options, subject to certain conditions.
- Source: Press Release