STAG Industrial increased the capacity of the Company's unsecured credit facility to $750 million and refinanced $300 million of term loan debt. The Company exercised the accordion option of its unsecured credit facility capacity and increased its borrowing capacity from $500 million to $750 million with no change to pricing, maturity, and terms. The transaction included a reduction in the LIBOR floor from 25 basis points to zero basis points.

In addition, the Company refinanced the $300 million unsecured term loan G, which was previously set to mature in April 2021, before extension options. The refinanced term loan bears a current interest rate of LIBOR plus a spread of 1.00%, a 50 basis point spread reduction from the previous term loan, and matures on February 5, 2026.

"This transaction resulted in additional liquidity and improved pricing while extending our weighted average debt maturities," said Bill Crooker, Chief Financial Officer of the Company. "We appreciate the support of our debt capital partners and look forward to working closely with them as we continue to execute on our growth plans."

Wells Fargo Securities, LLC served as Left Lead Arranger and Bookrunner, with, BofA Securities, Inc., TD Securities LLC, Regions Capital Markets, PNC Capital Markets, LLC, and Capital One N.A. serving as Joint Lead Arrangers. Other lenders include Citibank, N.A., U.S. Bank, N.A., BMO Harris Bank N.A., Raymond James Bank, N.A., Truist Bank, Royal Bank of Canada, The Bank of East Asia, Limited, Associated Bank, and American Savings Bank, FSB.