LXP Industrial Trust enters new $600M revolver and $300M term loan facility

LXP Industrial Trust

New $600M senior unsecured revolver matures July 5, 2026; extendable to July 5, 2027, replaces prior $600M revolver.
Existing $300M term loan continues with maturity January 31, 2025; combined capacity can increase up to $1.8B.
Pricing based on SOFR plus margin: revolver SOFR margin ranges 0.725%–1.40% depending on credit rating.
Key financial covenant: Total Indebtedness capped at 60% of Capitalized Value (cap rate lowered to 6.0% from 7.25%).
Proceeds to be used for general working capital, including funding new investments.

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