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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
October 1, 2007 (September 28, 2007)
Date of Report (Date of earliest event reported)
FIRST INDUSTRIAL REALTY TRUST, INC.
(Exact name of registrant as specified in its charter)
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Maryland |
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1-13102 |
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36-3935116 |
(State or other jurisdiction of
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(Commission File Number)
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(I.R.S. Employer |
incorporation or organization)
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Identification No.) |
311 S. Wacker Drive, Suite 4000
Chicago, Illinois 60606
(Address of principal executive offices, zip code)
(312) 344-4300
(Registrants telephone number, including area code)
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 (see General Instruction
A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01. |
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Entry into a Material Definitive Agreement. |
On September 28, 2007, First Industrial Realty Trust, Inc. (the Company), First Industrial,
L.P. (the Operating Partnership), JP Morgan Chase Bank, N.A. (Chase) and certain other lenders
entered into an amendment and restatement (the New Credit Facility) of that certain Fourth
Amended and Restated Unsecured Revolving Credit Agreement dated as of August 23, 2005 among the
Operating Partnership, the Company, Chase and the other lenders thereunder (the Old Credit
Facility). The New Credit Facility commitment provides for $500 million of borrowings by the
Operating Partnership, which may be increased, subject to certain conditions, to $700 million. The
New Credit Facility matures on September 28, 2012 and provides for interest only payments at LIBOR
plus 47.5 basis points or at Prime, at the Operating Partnerships election. The Company has fully
and unconditionally guaranteed payment of borrowings under the New Credit Facility. The Operating
Partnership intends to use the New Credit Facility for general business purposes, including,
without limitation, working capital needs, interim financing of property acquisitions by the
Operating Partnership and its affiliates and repayment of indebtedness. Each of the Company and
the Operating Partnership has or may have had with one or more of the lenders party to the New
Credit Facility customary banking relationships through which a variety of financial services are
or were provided, including investment banking, underwriting, lending, commercial banking, treasury
management, trustee and other advisory services, and for which such lenders will receive or have
received customary fees and expenses.
The description herein of the New Credit Facility is qualified in its entirety, and the terms
therein are incorporated herein, by reference to the New Credit Facility filed as Exhibit 10.1
hereto.
The Old Credit Facility commitment was for $500 million, which could be increased, subject to
certain conditions, to $600 million. The Old Credit Facility matured on September 28, 2008 and
provided for interest only payments at LIBOR plus 62.5 basis points or at Prime, at the Operating
Partnerships election.
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Item 1.02. |
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Termination of a Material Definitive Agreement |
The information set forth in Item 1.01 is incorporated herein by reference.
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Item 2.03. |
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Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
The information set forth in Item 1.01 is incorporated herein by reference.
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Item 9.01. |
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Financial Statements and Exhibits. |
(c) Exhibits. The following exhibits are filed herewith:
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Exhibit No. |
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Description |
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10.1. |
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Fifth Amended and Restated Unsecured Revolving Credit
Agreement dated as of September 28, 2007 among the Operating
Partnership, the Company, JP Morgan Chase Bank, N.A. and the
other lenders thereunder. |
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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.
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FIRST INDUSTRIAL REALTY TRUST, INC.
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By: |
/s/ Scott A. Musil
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Name: |
Scott A. Musil |
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Title: |
Chief Accounting Officer |
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Date: October 1, 2007