First Industrial Realty to refinance $200 million unsecured term loan facility

By Taylor Fox

Chicago, July 15 – First Industrial Realty Trust, Inc. is refinancing its $200 million unsecured term loan facility with a new unsecured term loan facility, according to a news release.

The new loan bears an interest rate of Libor plus 150 basis points and has an initial maturity date of July 15, 2021. It is subject to two one-year extension options at the company’s discretion.

The original term loan facility was scheduled to mature Jan. 29, 2021.

First Industrial Realty has also entered into new interest rate swap agreements that convert the loan to a fixed interest rate of 2.49% starting in February 2021.

Wells Fargo Securities, LLC and PNC Capital Markets LLC are the joint lead arrangers and joint book runners.

Wells Fargo Bank, NA is the administrative agent and PNC Bank, NA is the syndication agent. Regions Bank, Fifth Third Bank and U.S. Bank NA also participated in the new term loan facility.

First Industrial is a Chicago-based owner and operator of industrial real estate and provider of supply-chain services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.