First Industrial closes $425M and $375M term loan refinancings; maturities extended, spreads reduced

FIRST INDUSTRIAL LP

Amended $425M Wells Fargo term loan; new maturity Jan 22, 2030 with one-year extension option.
Amended and upsized $300M U.S. Bank term loan to $375M; new maturity Jan 22, 2029 with two one-year extension options.
Both loans bear interest at SOFR + 85 bps; previously had an extra 10 bps SOFR adjustment that was eliminated.
Interest-only payments during term; principal due at maturity; incremental borrowing capacity of $150M (Wells) and $100M (U.S. Bank).

item 1.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FIRST INDUSTRIAL LP amended term loan of $375.0 million with U.S. Bank, National Association maturing January 22, 2029.

Instrument: term loan
Principal: $375.0 million
Counterparty: U.S. Bank, National Association
Maturity: January 22, 2029
Event: amendment

Exact text from the filing

Amended and Restated Unsecured Term Loan Agreement On January 22, 2026, the Company and the Operating Partnership amended and restated in its entirety their Unsecured Term Loan Agreement, dated as of August 12, 2022, by entering into that certain Amended and Restated Unsecured Term Loan Agreement, among the Operating Partnership, as borrower, the Company, as guarantor, U.S. Bank, National Association, as administrative agent, and the lenders thereunder (as amended and restated, the “Amended and Restated US Bank Term Loan Agreement”). The Amended and Restated US Bank Term Loan Agreement, among other things, (i) provides for a $375.0 million unsecured term loan and allows the Operating Partnership to request incremental term loans in an aggregate incremental amount up to $100.0 million, subject to the willingness of existing or new lenders to fund such increase and other customary conditions, (ii) extends the maturity date of the term loan facility from August 12, 2026 to January 22, 202

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

FIRST INDUSTRIAL LP amended Amended and Restated US Bank Term Loan Agreement with U.S. Bank, National Association valued at $375.0 million (effective 2026-01-22).

Action: amendment
Agreement: credit facility
Counterparty: U.S. Bank, National Association
Value: $375.0 million
Effective: 2026-01-22

Exact text from the filing

Amended and Restated Unsecured Term Loan Agreement On January 22, 2026, the Company and the Operating Partnership amended and restated in its entirety their Unsecured Term Loan Agreement, dated as of August 12, 2022, by entering into that certain Amended and Restated Unsecured Term Loan Agreement, among the Operating Partnership, as borrower, the Company, as guarantor, U.S. Bank, National Association, as administrative agent, and the lenders thereunder (as amended and restated, the “Amended and Restated US Bank Term Loan Agreement”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

FIRST INDUSTRIAL LP amended Second Amended and Restated Unsecured Term Loan Agreement with Wells Fargo Bank, National Association valued at $425.0 million (effective 2026-01-22).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Value: $425.0 million
Effective: 2026-01-22

Exact text from the filing

Second Amended and Restated Unsecured Term Loan Agreement On January 22, 2026, First Industrial Realty Trust, Inc. (the “Company”) and First Industrial, L.P. (the “Operating Partnership”) amended and restated in its entirety their Amended and Restated Unsecured Term Loan Agreement, dated as of April 18, 2022, by entering into that certain Second Amended and Restated Unsecured Term Loan Agreement, among the Operating Partnership, as borrower, the Company, as guarantor, Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and the lenders thereunder (as amended and restated, the “Amended and Restated Wells Fargo Term Loan Agreement”).

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306 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0000921825-26-000003

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