First Industrial Realty Trust Inc Secures $800M Refinancing Deal

By Chris Stiles • Sunday, January 25 02:38 • Permanent Link

First Industrial Realty Trust, Inc. (NYSE: FR) recently announced the successful refinancing of its unsecured term loans, securing a $425 million loan with an initial maturity date of January 22, 2030, and a $375 million loan with an initial maturity date of January 22, 2029. Both loans offer interest-only payments initially at an interest rate of SOFR plus 85 basis points, based on the company's current credit ratings.

The company also made amendments to its $200 million unsecured term loan, including the elimination of the 10 basis point SOFR adjustment. This refinancing and amendment provide the company with capital to support its long-term growth.

The joint lead arrangers and joint book runners for the $425 million loan were Wells Fargo Securities, LLC and PNC Capital Markets LLC, with additional joint lead arrangers including BofA Securities, Inc., U.S. Bank National Association, Regions Capital Markets, Fifth Third Bank, National Association, and Associated Bank. The administrative agent for this loan is Wells Fargo Bank, National Association, with PNC Bank, National Association, Bank of America, N.A., U.S. Bank National Association, Regions Bank, Fifth Third Bank, National Association, and Associated Bank serving as co-syndication agents. American Savings Bank also participated in this term loan.

For the $375 million loan, the joint lead arrangers and joint book runners were U.S. Bank National Association, BofA Securities, Inc., PNC Capital Markets LLC, and Regions Capital Markets, with U.S. Bank National Association serving as the administrative agent, and Bank of America, N.A. as the syndication agent, and PNC Bank, National Association, and Regions Bank as co-documentation agents. JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, and Royal Bank of Canada also participated in this term loan.

First Industrial Realty Trust, Inc. is a leading U.S.-only owner, operator, developer, and acquirer of logistics properties, owning and having under development approximately 70.4 million square feet of industrial space concentrated in 15 target MSAs as of September 30, 2025. As a result of these announcements, the company's shares have moved 0.99% on the market, and are now trading at a price of $59.90. For the full picture, make sure to review FIRST INDUSTRIAL REALTY TRUST INC's 8-K report.

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