Company: FR
Filing Date: 2025-03-19
Form Type: 8-K
Source: 0000921825-25-000023
Chunk: 0

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-03-19
Form: 8-K
Item: Item 1.01
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Item 1.01: Entry into Material Definitive Agreements.

Fifth Amended and Restated Unsecured Revolving Credit Agreement

On March 18, 2025, First Industrial Realty Trust, Inc. (the “ Company”) and First Industrial, L. P. (the “ Operating Partnership”) amended and restated in its entirety their Fourth Amended and Restated Unsecured Revolving Credit Agreement, dated as of July 7, 2021, by entering into that certain Fifth Amended and Restated Unsecured Revolving Credit Agreement, among the Operating Partnership, as borrower, the Company, as guarantor, Wells Fargo Bank, National Association (“ Wells Fargo”), as administrative agent, Bank of America, N. A., PNC Bank, National Association, and U. S. Bank National Association, as co-syndication agents, and JPMorgan Chase Bank, N. A., Regions Bank, Royal Bank of Canada and Fifth Third Bank, National Association, as co-documentation agents, and the lenders thereunder (as amended and restated, the “ Amended and Restated Revolving Credit Agreement”).

The Amended and Restated Revolving Credit Agreement, among other things, (i) increases the borrowing capacity under the revolving facility from $750.0 million to $850.0 million and includes an accordion feature that allows the Operating Partnership to increase the aggregate facility size to an amount up to $1.0 billion, subject to the willingness of existing or new lenders to fund such increase and other customary conditions, (ii) extends the maturity date of the revolving facility from July 7, 2025 to March 16, 2029 with the option to extend the maturity date twice by an additional six months per extension exercisable at the Operating Partnership’s election, subject to the satisfaction of certain conditions (including, for each extension, payment of an extension fee equal to 0.0625% of the revolving commitments), and (iii) gives the Operating Partnership the ability to incorporate a sustainability metric adjustment to the interest rate applicable to borrowings under the Amended and Restated Revolving Credit Agreement, subject to certain conditions, within one year of the closing date, which period may be extended by an additional six months. The Operating Partnership intends to use the amounts borrowed under the Amended and Restated Revolving Credit Agreement for general business purposes, including working capital needs, closing costs, funding for property acquisitions and construction of new industrial properties and payment of other debts and obligations of the Operating