First Industrial refinances $425M and $375M unsecured term loans, extends maturities
First Industrial Realty Trust refinanced two unsecured term loans on January 22, 2026: a $425 million Wells Fargo facility now maturing January 22, 2030, and a $375 million U.S. Bank facility now maturing January 22, 2029. Both loans price at SOFR plus 0.85%, and the 0.10% SOFR adjustment on the Wells Fargo loan was removed, which the filing does not quantify as a dollar effect on the company.
- Wells Fargo term loan: $425.0 million, maturity extended from October 18, 2027 to January 22, 2030, with one-year extension option
- U.S. Bank term loan: $375.0 million, maturity extended from August 12, 2026 to January 22, 2029, with two one-year extension options
- Both loans priced at SOFR plus 0.85% based on investment grade ratings of BBB/Baa2/BBB+; incremental borrowing capacity of up to $150.0 million and $100.0 million
- Proceeds refinance existing term loans; the U.S. Bank loan also covers general business purposes