STAG Industrial Enters Material Definitive Agreement

TL;DR

STAG Industrial just signed a big deal, creating new financial obligations.

AI Summary

STAG Industrial, Inc. entered into a Material Definitive Agreement on September 10, 2024, which also created a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. The filing includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates a significant new financial commitment or arrangement for STAG Industrial, which could impact its financial obligations and operational structure.

Risk Assessment

Risk Level: medium — The creation of a material definitive agreement and new financial obligations introduces potential risks related to the terms and execution of this arrangement.

Key Players & Entities

• STAG Industrial, Inc. (company) — Registrant
• September 10, 2024 (date) — Date of earliest event reported
• Maryland (jurisdiction) — State of incorporation
• 001-34907 (commission_file_number) — SEC File Number
• 27-3099608 (irs_number) — IRS Employer Identification No.
• One Federal Street, 23rd Floor Boston, Massachusetts 02110 (address) — Business and Mail Address

FAQ

Key Financial Figures

• $0.01 — e on which registered Common stock, $0.01 par value per share STAG New York S
• $1.0 billion — July 26, 2022, related to the Company's $1.0 billion unsecured credit facility that was set

Filing Documents

• tm2423865d1_8k.htm (8-K) — 27KB
• tm2423865d1_ex10-1.htm (EX-10.1) — 960KB
• 0001104659-24-099314.txt ( ) — 1372KB
• stag-20240910.xsd (EX-101.SCH) — 3KB
• stag-20240910_lab.xml (EX-101.LAB) — 33KB
• stag-20240910_pre.xml (EX-101.PRE) — 22KB
• tm2423865d1_8k_htm.xml (XML) — 4KB

01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On September 10, 2024, STAG Industrial, Inc., a Maryland corporation (the " Company "), and its operating partnership, STAG Industrial Operating Partnership, L.P., a Delaware limited partnership, entered into the Second Amended and Restated Credit Agreement (the " Credit Agreement ") with Wells Fargo Bank, National Association, and the other lenders named therein, to amend and restate that certain Amended and Restated Credit Agreement, dated as of July 26, 2022, related to the Company's $1.0 billion unsecured credit facility that was set to mature on October 24, 2025. The Company entered into the Credit Agreement to (i) extend the maturity date to September 8, 2028, or such later date which may be extended pursuant to two six-month extension options exercisable by the Company in its discretion, subject to certain conditions, including the payment of a fee, and (ii) provide that borrowings under the unsecured credit facility will, at the Company's election, bear interest based on a Base Rate, Adjusted Term SOFR or Adjusted Daily Simple SOFR (each as defined in the Credit Agreement), which interest rate will be increased by 0.10% for any SOFR Loan (as defined in the Credit Agreement), plus an applicable spread based on the Company's debt rating and leverage ratio (each as defined in the Credit Agreement). As of September 10, 2024, the unsecured credit facility had a stated annual interest rate equal to the one-month Adjusted Term SOFR, which includes an adjustment of 0.10%, plus a spread of 0.775%. Other than the maturity date and the interest rate provisions described above, the material terms of the Company's unsecured credit facility remain unchanged. The foregoing description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the Credit Agreement, attached as Exhibit 10.1 hereto. ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UND

01. FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits Exhibit Number Description 10.1 Unsecured Credit Facility: Second Amended and Restated Credit Agreement, dated as of September 10, 2024 104 Cover Page Interactive Data File (embedded within XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. STAG INDUSTRIAL, INC. Dated: September 12, 2024 By: /s/ Jeffrey M. Sullivan Jeffrey M. Sullivan Executive Vice President, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR