---
schema_version: "secwatch.filing_event.v1"
accession: "0000921825-25-000023"
form_type: "8-K"
ticker: null
cik: "0001033128"
company_name: "FIRST INDUSTRIAL LP"
filed_at: "2025-03-19T23:59:59+00:00"
generated_at: "2026-05-24T11:26:49.306195+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# First Industrial closes $850M revolver, refinances $200M term loan

## Summary
- Revolving credit facility increased from $750M to $850M; accordion to $1B. Maturity March 16, 2029, with two six-month extensions.
- Initial pricing at SOFR + 77.5 bps (no SOFR adjustment); based on BBB+/Baa1/BBB+ level despite current BBB/Baa2/BBB if leverage <35%.
- Term loan of $200M refinanced; maturity March 17, 2028 with two one-year extensions. SOFR + 85 bps plus 10 bps SOFR adjustment.
- $431M outstanding under revolving facility; proceeds for general corporate purposes, acquisitions, and construction.

## SEC filing metadata
- accession: 0000921825-25-000023
- form_type: 8-K
- cik: 0001033128
- company_name: FIRST INDUSTRIAL LP
- filed_at: 2025-03-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1033128/000092182525000023/0000921825-25-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921825/000092182525000023/fr-20250318.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000921825-25-000023
- JSON: https://secwatch.observer/filing/0000921825-25-000023.json
- Plain text: https://secwatch.observer/filing/0000921825-25-000023.txt

## Key facts
- Debt Financings
  FIRST INDUSTRIAL LP amended revolving credit of $850.0 million with Wells Fargo Bank, National Association, as administrative agent at base rate plus a margin of 0.00% to 0.40%, daily secured overnight financing rat maturing March 16, 2029.
  - Instrument: revolving credit
  - Principal: $850.0 million
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent
  - Rate: base rate plus a margin of 0.00% to 0.40%, daily secured overnight financing rat
  - Maturity: March 16, 2029
  - Event: amendment
  source text: The Amended and Restated Revolving Credit Agreement, among other things, (i) increases the borrowing capacity under the revolving facility from $750.0 million to $850.0 million and includes an accordion feature that allows the Operating Partnership to increase the aggregate facility size to an amount up to $1.0 billion, subject to the willingness of existing or new lenders to fund such increase and other customary conditions, (ii) extends the maturity date of the revolving facility from July 7, 2025 to March 16, 2029
  evidence_url: https://www.sec.gov/Archives/edgar/data/1033128/000092182525000023/0000921825-25-000023-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.