BOSTON, July 26, 2018 /PRNewswire/ -- STAG Industrial, Inc. (the "Company") STAG today announced that it has closed a new $500 million senior unsecured revolving credit facility.

The new facility matures on January 15, 2023, with two six-month extension options, subject to certain conditions. The new facility bears a current interest rate of LIBOR plus a spread of 1.05% and a facility fee of 15 basis points based on the Company's current leverage level, a reduction in pricing of 10 and 5 basis points, respectively, compared to the Company's previous unsecured revolving facility. The new facility includes an accordion feature that allows the Company to increase the aggregate size of the facility to $1 billion, subject to certain conditions.

In addition, the Company announced a new $175 million, unsecured term loan. The new term loan matures on January 15, 2024, bears a current interest rate of LIBOR plus a spread of 1.20%, and features a twelve-month delayed-draw feature. The new term loan includes an accordion feature that allows the Company to increase the aggregate size of the term loan to $350 million, subject to certain conditions. On July 24, 2018, the Company entered into four interest rate swaps to fix the interest rate on the new term loan at 4.12% through the maturity date.

"This transaction enhanced an already strong balance sheet that continues to be well-positioned to support the Company's attractive opportunity set," 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 the Company continues its impressive growth trajectory."

Wells Fargo, Securities, LLC and Merrill Lynch, Pierce, Fenner and Smith Incorporated served as Lead Arrangers and Bookrunners, with Wells Fargo Bank, National Association serving as Administrative Agent, an L/C Issuer, and the Swing Line Lender, and Bank of America, N.A. serving as Syndication Agent and an L/C Issuer. Capital One, National Association, PNC Capital Markets, LLC, Regions Capital Markets and TD Securities (USA) LLC as Joint Lead Arrangers and Co-Documentation Agents. Citibank, N.A., Raymond James Bank, N.A., Royal Bank of Canada, and U.S. Bank National Association serve as Co-Senior Managing Agents. Other lenders include Branch Banking and Trust Company and Bank of Montreal.

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 360 properties in 37 states with approximately 71 million rentable square feet.

For additional information, please visit the Company's website at www.stagindustrial.com.

Forward-Looking Statements

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, 2017 as updated by the Company's quarterly reports on Form 10-Q. 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.