Industrial real estate investment trust STAG Industrial Inc. closed on a $500 million senior unsecured revolving credit facility and a $175 million unsecured term loan.

The new facility expires Jan. 15, 2023, with two six-month extension options, and bears interest at the London Interbank Offered Rate plus a spread of 1.05% and a facility fee of 15 basis points.

The new term loan expires Jan. 15, 2024, bears interest rate at LIBOR plus a spread of 1.20%, and features a 12-month delayed-draw feature.

Both the facility and term loan include accordion features that allow the company to boost their sizes to $1 billion and $350 million, respectively.

Wells Fargo Securities LLC and Merrill Lynch Pierce Fenner and Smith Inc. served as lead arrangers and book runners, with Wells Fargo Bank NA serving as administrative agent, an L/C issuer and the swing-line lender.

Bank of America NA serves as syndication agent and an L/C issuer. Capital One NA, PNC Capital Markets LLC, Regions Capital Markets and TD Securities (USA) LLC are joint lead arrangers and co-documentation agents.

Citibank NA, Raymond James Bank NA, Royal Bank of Canada and U.S. Bank NA serve as co-senior managing agents. Other lenders include Branch Banking and Trust Co. and Bank of Montreal.