LXP Industrial Trust to repay $25 million revolver with note proceeds

By Mary-Katherine Stinson

Lexington, Ky., Nov. 2 – LXP Industrial Trust plans to use the proceeds from a dollar-denominated senior note offering to pay down its revolving credit facility, which totaled $25 million outstanding as of Nov. 2, according to a 424B5 filing with the Securities and Exchange Commission.

The revolver bears interest at SOFR plus a margin ranging from 72.5 basis points to 140 bps depending on LXP’s debt rating. It matures on July 5, 2026 but can be extended to July 5, 2027 subject to certain conditions.

LXP is a Maryland real estate investment trust focused on single-tenant warehouse/distribution real estate. Based in New York City, it was formerly known as Lexington Realty Trust.

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