LXP Industrial Trust (NYSE: LXP) announced today the early results of a cash tender offer to repurchase up to $150 million of its outstanding 6.750% Notes due 2028. The offer, which represents half of the $300 million principal outstanding, allows holders to tender their notes by the early deadline of October 15, 2025, and will be priced on October 16, 2025.
The offer includes an early tender premium of $30 per $1,000 principal and will expire at 5:00 p.m. New York City time on October 30, 2025, unless extended. The company expects to announce the pricing, the amount of notes accepted for purchase, and the approximate proration rate for the notes on October 16, 2025, providing investors with a clear timeline for the debt repurchase.
By repurchasing up to $150 million of its 6.750% Notes, LXP will reduce its debt load, improve its net debt to adjusted EBITDA ratio, and strengthen its capital structure. The early results announcement signals the company’s active management of its debt profile and its commitment to maintaining a low‑leverage balance sheet, which is material to investors and reflects a significant financing event for the REIT.
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