STAG Industrial (NYSE: STAG) extends $350M term loan, trims spreads

Q: What changes did STAG (STAG) make to its unsecured term loans on July 16, 2026?

STAG combined a $150 million and a $200 million unsecured term loan into a single senior unsecured term loan of $350 million , extended its maturity to January 16, 2032 , and reduced the applicable interest spread by five basis points.

Q: How were interest spreads affected for STAG (STAG) credit facilities and term loans?

STAG reduced the applicable interest spread by five basis points (but not below zero) on its Amended Unsecured Term Loan A, its $1.0 billion unsecured credit facility, and unsecured Term Loans G, H and I, while leaving other material terms unchanged.

Q: Which STAG (STAG) debt facilities were amended in July 2026?

Amendments covered the $350 million Amended Unsecured Term Loan A, the $1.0 billion unsecured credit facility maturing September 7, 2029, the $300 million Unsecured Term Loan G maturing March 14, 2031, and the $187.5 million Unsecured Term Loans H and I maturing January 25, 2028.

Q: What happened to STAG (STAG) Unsecured Term Loan F as part of these amendments?

The $200 million Unsecured Term Loan F, which had a stated maturity of March 23, 2029 assuming extension options, was combined into the new $350 million Amended Unsecured Term Loan A and was extinguished at closing of the amended agreement.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

STAG Industrial, Inc. restructured key unsecured debt arrangements with its operating partnership and a bank syndicate. Two existing unsecured term loans of $150 million and $200 million were combined into one senior unsecured term loan with an aggregate principal amount of $350 million, now maturing on January 16, 2032, and the prior $200 million Unsecured Term Loan F was extinguished. The amendments reduce the applicable interest spread by five basis points (but not below zero) on this Amended Unsecured Term Loan A and on the $1.0 billion unsecured credit facility and unsecured Term Loans G, H and I, whose other material terms, including stated maturities (assuming exercise of discretionary extension options), remain unchanged. As of July 20, 2026, the floating interest rate on the Amended Unsecured Term Loan A was swapped to an all-in fixed rate inclusive of the applicable spread.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Amended Unsecured Term Loan A size: $350 million Prior Unsecured Term Loan A: $150 million Unsecured Term Loan F: $200 million +5 more

8 metrics

Amended Unsecured Term Loan A size $350 million Aggregate principal amount of senior unsecured term loan after combining prior loans

Prior Unsecured Term Loan A $150 million Original unsecured term loan that was part of the combination into the amended loan

Unsecured Term Loan F $200 million Unsecured term loan combined into the Amended Unsecured Term Loan A and extinguished at closing

Amended Term Loan A maturity January 16, 2032 New maturity date for the Amended Unsecured Term Loan A

Unsecured Credit Facility size $1.0 billion Unsecured credit facility maturing September 7, 2029 with reduced applicable spread

Unsecured Term Loan G $300 million Unsecured term loan maturing March 14, 2031 with reduced applicable spread

Unsecured Term Loan H $187.5 million Unsecured term loan maturing January 25, 2028 with reduced applicable spread

Unsecured Term Loan I $187.5 million Unsecured term loan maturing January 25, 2028 with reduced applicable spread

Key Terms

Term SOFR, Daily Simple SOFR, senior unsecured term loan, applicable spread, +1 more

5 terms

Term SOFR financial

"bear interest based on a Base Rate, Term SOFR, or Daily Simple SOFR"

Term SOFR is a benchmark interest rate that reflects the cost of borrowing money over a specific period, based on actual transactions in the financial markets. It is used by lenders and borrowers to set the interest rates on loans and financial contracts, helping to ensure rates are fair and transparent. For investors, understanding term SOFR helps gauge borrowing costs and the overall direction of interest rates in the economy.

Daily Simple SOFR financial

"bear interest based on a Base Rate, Term SOFR, or Daily Simple SOFR"

Daily simple SOFR is a widely published short-term interest benchmark based on actual overnight secured borrowing costs in the U.S. Treasury repo market; the “daily simple” version means the single-day rate is applied directly to calculate interest for that day rather than being compounded over multiple days. Investors care because it sets the interest paid or earned on floating-rate loans, bonds and cash products, so small daily changes change cash flows, borrowing costs and valuations—think of it as the daily retail price that determines what you pay or receive for short-term money.

senior unsecured term loan financial

"into one senior unsecured term loan in the aggregate principal amount of $350 million"

A senior unsecured term loan is a fixed-schedule loan a company takes from lenders that ranks high in repayment order but is not backed by specific collateral. Think of it as a formal IOU that gets paid before shareholders and some other creditors, yet carries more risk than loans secured by assets; because of that, it usually pays a higher interest rate. Investors watch these loans for signals about a company’s cash flow, credit risk and how safely it can service its debts.

applicable spread financial

"plus an applicable spread based on the Company’s debt rating and leverage ratio"

discretionary extension options financial

"Maturity dates assume exercise of discretionary extension options"

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Understanding 8-K Material Events →

Available on EDGAR 07/22/2026 - 04:15 PM Accepted by SEC EDGAR 07/22/2026 - 04:15 PM

FAQ

What changes did STAG (STAG) make to its unsecured term loans on July 16, 2026?

STAG combined a $150 million and a $200 million unsecured term loan into a single senior unsecured term loan of $350 million, extended its maturity to January 16, 2032, and reduced the applicable interest spread by five basis points.

What is the size and maturity of STAG (STAG) Amended Unsecured Term Loan A?

The Amended Unsecured Term Loan A has an aggregate principal amount of $350 million and now matures on January 16, 2032. It is a senior unsecured term loan with interest based on Base Rate, Term SOFR, or Daily Simple SOFR plus an applicable spread.

How were interest spreads affected for STAG (STAG) credit facilities and term loans?

STAG reduced the applicable interest spread by five basis points (but not below zero) on its Amended Unsecured Term Loan A, its $1.0 billion unsecured credit facility, and unsecured Term Loans G, H and I, while leaving other material terms unchanged.

Which STAG (STAG) debt facilities were amended in July 2026?

Amendments covered the $350 million Amended Unsecured Term Loan A, the $1.0 billion unsecured credit facility maturing September 7, 2029, the $300 million Unsecured Term Loan G maturing March 14, 2031, and the $187.5 million Unsecured Term Loans H and I maturing January 25, 2028.

What happened to STAG (STAG) Unsecured Term Loan F as part of these amendments?

The $200 million Unsecured Term Loan F, which had a stated maturity of March 23, 2029 assuming extension options, was combined into the new $350 million Amended Unsecured Term Loan A and was extinguished at closing of the amended agreement.

How is interest determined on STAG (STAG) amended unsecured loans?

Borrowings under the amended unsecured loans bear interest at a chosen Base Rate, Term SOFR, or Daily Simple SOFR, plus an applicable spread tied to STAG’s debt rating and leverage ratio, with that spread reduced by five basis points under the new amendments.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 16, 2026

STAG INDUSTRIAL, INC.

(Exact name of registrant as specified in its charter)

Maryland	001-34907	27-3099608
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

One Federal Street, 23rd Floor

Boston, Massachusetts 02110

(Address of principal executive offices, zip code)

Registrant’s telephone number, including area code: (617) 574-4777

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbols		Name of each exchange on which registered
Common stock, $0.01 par value per share		STAG		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities and Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 1.01.

ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

Amended Unsecured Term Loan A

On July 16, 2026, STAG Industrial, Inc., a Maryland corporation (the “Company”), and its operating partnership, STAG Industrial Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”), entered into the Fourth Amended and Restated Term Loan Agreement (“Amended Term Loan Agreement”) with Wells Fargo Bank, National Association, and the other lenders named therein, to amend and restate that certain Third Amended and Restated Term Loan Agreement, dated as of September 1, 2022, as amended, related to the Company’s $150 million unsecured term loan that was set to mature on March 15, 2027 (the “Unsecured Term Loan A”).

Borrowings under the Amended Term Loan Agreement, at the Company’s election, bear interest based on a Base Rate, Term SOFR, or Daily Simple SOFR (each as defined in the Amended Term Loan Agreement), plus an applicable spread based on the Company’s debt rating and leverage ratio (each as defined in the Amended Term Loan Agreement).

The Company entered into the Amended Term Loan Agreement to (i) combine the Unsecured Term Loan A and the Company’s $200 million unsecured term loan that was set to mature on March 23, 2029 (assuming exercise of discretionary extension options), pursuant to that certain Second Amended and Restated Term Loan Agreement, dated as of March 25, 2024, as amended (the “Unsecured Term Loan F”), into one senior unsecured term loan in the aggregate principal amount of $350 million (the “Amended Unsecured Term Loan A”), (ii) extend the maturity date to January 16, 2032, and (iii) reduce, by five basis points (but not below zero), the applicable spread based on the Company’s debt rating and leverage ratio. Upon closing, the Unsecured Term Loan F was extinguished. Other than the provisions described above, the material terms of the Unsecured Term Loan A remain unchanged.

As of July 20, 2026, the floating interest rate for the Amended Unsecured Term Loan A was swapped to an all-in fixed rate (inclusive of the applicable spread) as follows:

for $150 million of the balance, 2.01% until March 15, 2027, and then 4.79% from March 15, 2027, until January 16, 2032, and

for $200 million of the balance, 4.68% until March 25, 2027, and then 4.79% from March 25, 2027, until January 16, 2032.

The foregoing description of the Amended Unsecured Term Loan A does not purport to be complete and is qualified in its entirety by reference to the Amended Term Loan Agreement attached as Exhibit 10.1 hereto.

Amendments to Unsecured Credit Facility and Unsecured Term Loans G, H and I

On July 16, 2026, the Company and the Operating Partnership entered into amendments (the “Amendments”) to the Company’s $1.0 billion unsecured credit facility maturing September 7, 2029 (the “Unsecured Credit Facility”), $300 million unsecured term loan maturing March 14, 2031 (the “Unsecured Term Loan G”), $187.5 million unsecured term loan maturing January 25, 2028 (the “Unsecured Term Loan H”), and $187.5 million unsecured term loan maturing January 25, 2028 (the “Unsecured Term Loan I”). Borrowings under the Unsecured Credit Facility and the Unsecured Term Loans G, H and I, at the Company’s election, bear interest based on a Base Rate, Term SOFR, or Daily Simple SOFR (each as defined in the applicable Credit or Term Loan Agreement, as amended), plus an applicable spread based on the Company’s debt rating and leverage ratio (each as defined in the applicable Credit or Term Loan Agreement, as amended). The Company entered into the Amendments to reduce, by five basis points (but not below zero), the applicable spread based on the Company’s debt rating and leverage ratio. The other material terms of each of the Unsecured Credit Facility and the Unsecured Term Loans G, H and I remain unchanged.

Maturity dates assume exercise of discretionary extension options.

The foregoing description of the amendments to the Unsecured Credit Facility and the Unsecured Term Loan G, H and I does not purport to be complete and is qualified in its entirety by reference to the amendments attached as Exhibits 10.2, 10.3, 10.4 and 10.5 hereto, respectively.

ITEM 2.03.

CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

The information set forth under Item 1.01 of this report is incorporated herein by reference.

ITEM 9.01.

FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits

Exhibit Number		Description
10.1		Unsecured Term Loan A: Fourth Amended and Restated Term Loan Agreement, dated as of July 16, 2026

10.2		Unsecured Credit Facility: Second Amendment, dated as of July 16, 2026, to Second Amended and Restated Credit Agreement, dated as of September 10, 2024

10.3		Unsecured Term Loan G: First Amendment, dated as of July 16, 2026, to Second Amended and Restated Term Loan Agreement, dated as of September 15, 2025

10.4		Unsecured Term Loan H: Second Amendment, dated as of July 16, 2026, to Term Loan Agreement, dated as of July 26, 2022

10.5		Unsecured Term Loan I: Second Amendment, dated as of July 16, 2026, to Term Loan Agreement, dated as of July 26, 2022

104		Cover Page Interactive Data File (embedded within XBRL document)

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: July 22, 2026	By:	/s/ Jeffrey M. Sullivan
		Jeffrey M. Sullivan
		Executive Vice President, General Counsel and Secretary

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

8 documents