BOSTON, Dec. 20, 2016 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") (NYSE: STAG) today announced it has amended and restated the loan agreements related to two $150 million unsecured bank term loans ("Term Loan A" and "Term Loan B"). The transaction reduced the cost reflected in the pricing grids with no changes to maturity dates or other material language in the respective loan agreements. The leverage-based pricing grid for Term Loan A was reduced from LIBOR + 1.65% to LIBOR + 1.30% and Term Loan B was reduced from LIBOR +1.70% to LIBOR + 1.30%, assuming the most recently reported leverage levels.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust (REIT) focused on the acquisition and operation of single-tenant industrial properties throughout the United States. The Company's portfolio consists of 294 buildings in 37 states with approximately 57 million rentable square feet.
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "will," "expect," "intend," "anticipate," "estimate," "should," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the risk factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2015, as updated by the Company's annual and quarterly reports. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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SOURCE STAG Industrial, Inc.