By Wendy Van Sickle
Columbus, Ohio, July 7 – First Industrial Realty Trust, Inc. will issue $300 million of fixed-rate senior notes in two tranches at a weighted average interest rate of 2.81% in a private placement, according to a news release.
The company will issue $100 million of 2.74% 10-year guaranteed senior notes, series F, and $200 million of 2.84% 12-year guaranteed senior notes, series G.
The transaction is expected to settle on Sept. 17.
Proceeds will be used for general corporate purposes including repayment of outstanding borrowings on the company's unsecured line of credit and new investment.
First Industrial is a Chicago-based owner and operator of industrial real estate and provider of supply-chain services.
| Issuer: | First Industrial Realty Trust, Inc.
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| Issue: | Guaranteed senior notes
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| Amount: | $300 million
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| Pricing date: | July 7
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| Settlement date: | Sept. 17
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| Distribution: | Private placement
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| Series F notes
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| Amount: | $100 million
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| Tenor: | 10 years
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| Coupon: | 2.74%
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| Series G notes
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| Amount: | $200 million
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| Tenor: | 12 years
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| Coupon: | 2.84%
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