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First Industrial Realty Trust Announces Pricing of $450 Million of Senior Notes Due 2031
First Industrial Realty Trust, Inc. (the "Company") (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that its operating partnership, First Industrial, L.P., has priced a public offering of $450 million aggregate principal amount of 5.25% senior unsecured notes due 2031 (the "Notes").
About this update from First Industrial Realty Trust, Inc.
[{"type":"text","content":"CHICAGO, May 12, 2025 /PRNewswire/ -- First Industrial Realty Trust, Inc. (the "Company") (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced that its operating partnership, First Industrial, L.P., has priced a public offering of $450 million aggregate principal amount of 5.25% senior unsecured notes due 2031 (the "Notes").","length":409,"tagName":"p"},{"type":"image","alt":"First Industrial Realty Trust logo. (PRNewsFoto/First Industrial Realty Trust)","displaySize":"","headline":null,"caption":"First Industrial Realty Trust logo. (PRNewsFoto/First Industrial Realty Trust)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":144,"url":"https://media.zenfs.com/en/prnewswire.com/0c8ae7d25a05b669d20981b4c37b1819"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/dTEPYnjNUonHufow7uYScw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI1NDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/0c8ae7d25a05b669d20981b4c37b1819","width":400,"height":144}},"href":"https://mma.prnewswire.com/media/76368/first_industrial_realty_trust_logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Notes were priced at 99.265% of the principal amount and will mature on January 15, 2031. The offering is expected to settle on May 14, 2025, subject to the satisfaction of customary closing conditions. The Notes will be fully and unconditionally guaranteed by the Company.","length":277,"tagName":"p"},{"type":"text","content":"Proceeds from the sale of the Notes are expected to be used for general corporate purposes, including funding the acquisition and development of additional properties, the repayment or refinancing of outstanding indebtedness, working capital and other general purposes.","length":269,"tagName":"p"},{"type":"text","content":"J.P. Morgan Securities LLC, PNC Capital Markets LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC acted as joint book-running managers; BofA Securities, Inc., Citigroup Global Markets Inc., Fifth Third Securities, Inc., Regions Securities LLC and U.S. Bancorp Investments, Inc. acted as joint book-running managers; and Samuel A. Ramirez & Company, Inc. acted as co-manager of this offering.","length":407,"tagName":"p"},{"type":"text","content":"This offering is being made pu...