STAG Industrial closes $450M private placement of senior notes; rates 6.05%-6.30%

STAG Industrial, Inc.

$450M total: $175M 6.05% Series A due 2029, $125M 6.17% Series B due 2031, $150M 6.30% Series C due 2034.
Closing expected May 28, 2024; proceeds to repay unsecured credit facility and for general corporate purposes.
Notes are senior unsecured, guaranteed by STAG Industrial and certain subsidiaries.
Fixed rates between 6.05% and 6.30%, payable semiannually; optional prepayment subject to make-whole.
Financial covenants include minimum interest coverage ratio of 1.50:1.00.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

STAG Industrial, Inc. entered into Note Purchase Agreement with noteholders named therein valued at $175 million senior unsecured notes at 6.05% due 2029, $125 million at 6.17% due 2031, $150 million (effective 2024-03-13).

Action: entry
Agreement: notes offering
Counterparty: noteholders named therein
Value: $175 million senior unsecured notes at 6.05% due 2029, $125 million at 6.17% due 2031, $150 million
Effective: 2024-03-13

Exact text from the filing

On March 13, 2024, STAG Industrial, Inc., a Maryland corporation (the “ Company ”), and its operating partnership, STAG Industrial Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), entered into a note purchase agreement, dated as of March 13, 2024 (the “ Purchase Agreement ”), with the noteholders named therein. The Purchase Agreement provides for the future private placement of $175 million of senior unsecured notes, maturing May 28, 2029, with a fixed annual interest rate of 6.05%, $125 million of senior unsecured notes, maturing May 28, 2031, with a fixed annual interest rate of 6.17%, and $150 million of senior unsecured notes, maturing May 28, 2034, with a fixed annual interest rate of 6.30%.

View on SEC.gov

548 material agreements filed in the last 30 days. Browse all material agreements →

STAG Industrial, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-035579

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.