STAG, Hillenbrand issue senior notes; Alterra, NextEra, FS investment secure financing

By Lisa Kerner

Charlotte, N.C., Dec. 19 – STAG Industrial, Inc. and its operating partnership, STAG Industrial Operating Partnership, LP, agreed to issue three series of senior unsecured notes totaling $200 million.

The notes will be issued as follows: $80 million of 4.42% senior unsecured notes, series A, due Dec. 30, 2026; $100 million of 4.32% senior unsecured notes, series B, due Feb. 20, 2025; and $20 million of 4.42% senior unsecured notes, series C, due Feb. 20, 2027.

The series A notes will be sold on Dec. 30, and the series B and series C notes will be sold on Feb. 20, according to form 8-K filed with the Securities and Exchange Commission.

STAG Industrial is a Boston-based real estate company.

Hillenbrand, Inc. issued $100 million 4.6% series A notes due 2024 to Prudential Investment Management, Inc. and certain affiliates.

Interest on the notes is payable semiannually in arrears, according to a form 8-K filed with the SEC.

Proceeds will be used to finance working capital needs and for general corporate purposes.

Hillenbrand is a diversified industrial company based in Batesville, Ind., that makes and sells business-to-business products.

Alterra Power Corp. received C$22.5 million of funds related to tranche B of its previously announced C$110 million holding company loan facility.

In August, the company closed on the C$110 million loan with affiliates of AMP Capital Investors Ltd.

The C$22.5 million will be used as part of Alterra’s equity capital for the Shannon wind project, which is estimated at US$45 million, according to a company news release.

Alterra is a global renewable energy company based in Vancouver, B.C.

NextEra Energy Resources, LLC subsidiary McCoy Solar Funding, LLC entered into a $425 million limited-recourse variable-rate construction and term loan facility, as well as a $154 million variable-rate cash grant bridge loan facility.

Proceeds will be used to fund a portion of the costs associated with the construction and development of the McCoy Project, a 250 MW utility-scale solar photovoltaic generating facility in California, and to reimburse NextEra for previous capital contributions to the project, according to an SEC form 8-K.

Based in Juno Beach, Fla., NextEra is power generation and transmission company.

FS Investment Corp. II, through two special-purpose financing subsidiaries, entered into a $400 million debt financing arrangement on Dec. 15 with Goldman Sachs Bank USA.

The financing will be used to fund investments and for other general corporate purposes, stated a form 8-K filed with the SEC.

FS Investment is a business development company based in Philadelphia.

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