Company: FR
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118941
Chunk: 12

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-13
Form: 424B5
Chunk 12
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to the extent of the value of those assets) and would be subordinate to all indebtedness, guarantees and other obligations of that entity senior to that held by the Operating Partnership or the Company, as the
case may be.

As of March 31, 2025, the Operating Partnership (excluding its subsidiaries) had, in addition to trade payables and other liabilities,
$2.378 billion aggregate principal amount of outstanding direct unsecured indebtedness (including $454.0 million of outstanding indebtedness under the Operating Partnership’s unsecured revolving credit facility, $925.0 million of
outstanding indebtedness under the Operating Partnership’s unsecured term loan facilities and $998.6 million aggregate principal amount of existing senior unsecured notes) and no outstanding direct secured indebtedness, had
$395.5 million of remaining borrowing capacity available (subject to customary conditions) under its unsecured revolving credit facility and no borrowing capacity available under its unsecured term loan facilities and had guaranteed
approximately $9.6 million of secured indebtedness of certain of its subsidiaries. As of March 31, 2025, the Company (excluding its subsidiaries) had no outstanding direct indebtedness and had guaranteed the Operating Partnership’s
borrowings under the Operating Partnership’s unsecured credit facilities, unsecured term loan facilities and the private placement notes totaling approximately $2.329 billion aggregate principal amount. As of March 31, 2025, in
addition to their trade payables and other liabilities, the subsidiaries of the Operating Partnership and the subsidiaries of the Company (excluding the Operating Partnership) had approximately $9.6 million of secured indebtedness outstanding
and no outstanding unsecured indebtedness outstanding.

S-10

We may not be able to meet our debt service obligations. Our ability to make payments on and to refinance our indebtedness, including the notes, and to fund our operations, working capital and capital expenditures, depends on our ability to generate cash in the future. Our cash flow is subject to general economic, industry, financial, competitive, operating, legislative, regulatory, environmental and other factors, many of which are beyond our control. The instruments and agreements governing some of our outstanding indebtedness (including borrowings under the Operating Partnership’s unsecured credit facilities) contain provisions that require us repay that indebtedness under specified circumstances or upon the occurrence of specified events (including upon the acquisition by any person or group of more than a specified percentage of the aggregate voting power of all of the Company’s issued and outstanding voting stock, upon certain changes