secwatch.observer — SEC 8-K summary
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Issuer:     LXP Industrial Trust (LXP)
CIK:        0000910108
Form:       8-K
Filed at:   2022-07-11T23:59:59+00:00
Accession:  0001444838-22-000010
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 1.02, 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/910108/000144483822000010/0001444838-22-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/910108/000144483822000010/lxp-20220705.htm
  HTML page:      https://secwatch.observer/filing/0001444838-22-000010

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