Company: FR
Filing Date: 2025-04-17
Form Type: 10-Q
Source: 0000921825-25-000039
Chunk: 90

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-04-17
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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 borrowings under the Unsecured Credit Facility bear interest at a variable rate based on SOFR, plus a credit spread of 77.5 basis points based on our current credit ratings and consolidated leverage ratio, and requires us to pay a facility fee of 15 basis points. The Unsecured Credit Facility provides for interest-only payments during the term and may be increased, at our request and subject to the willingness of existing or new lenders to fund such increase and other customary conditions, to a maximum of $1,000,000. IndebtednessThe following is a schedule of the stated maturities and scheduled principal payments of our indebtedness, exclusive of  discounts, debt issuance costs and the impact of extension options, for the next five years as of March 31, and thereafter:  AmountRemainder of 2025$300,262 2026364 2027556,449 2028390,453 2029679,000 Thereafter460,600 Total$2,387,128 Our Unsecured Credit Facility, unsecured term loans, senior notes issued in private placements ("Private Placement Notes") and the indentures governing our senior unsecured notes contain certain financial covenants. These include, among others, restrictions on the incurrence of additional indebtedness and requirements related to debt service coverage ratios. Under the terms of the Unsecured Credit Facility and unsecured term loans, an event of default can occur if the lenders, in their good faith judgment, determine that a material adverse change has occurred, which could prevent timely repayment or materially impair our ability to perform our obligations under the loan agreements. We believe the Operating Partnership and the Company were in compliance with all covenants under the Unsecured Credit Facility, the unsecured term loans, the Private Placement Notes and the indentures governing our senior unsecured notes as of March 31, 2025. However, these financial covenants are complex and there can be no assurance that these provisions would not be interpreted by our lenders and noteholders in a manner that could impose and cause us to incur material costs.

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Fair ValueAt March 31, 2025 and December 31, 2024, the fair value of our indebtedness was as follows:  March 31, 2025December 31, 2024 CarryingAmount (A)FairValueCarryingAmount (A)FairValueMortgage Loan Payable$9,557 $9,331 $9,