secwatch.observer — SEC 8-K summary
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Issuer:     FIRST INDUSTRIAL LP (—)
CIK:        0001033128
Form:       8-K
Filed at:   2025-03-19T23:59:59+00:00
Accession:  0000921825-25-000023
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1033128/000092182525000023/0000921825-25-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921825/000092182525000023/fr-20250318.htm
  HTML page:      https://secwatch.observer/filing/0000921825-25-000023

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