LXP Industrial Trust issues $300M of 6.750% Senior Notes due 2028

LXP Industrial Trust

$300M aggregate principal of 6.750% Senior Notes due 2028 at 99.423% to yield 6.888%.
Net proceeds after underwriting discounts estimated at ~$296.5M.
Proceeds to repay all outstanding under unsecured revolving credit facility and for general corporate purposes.
Underwriters include Wells Fargo Securities, J.P. Morgan Securities, Mizuho Securities USA and others.
Closing expected November 13, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LXP Industrial Trust entered into Underwriting Agreement with Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and each of the other underwriters named in Schedule I thereto valued at $300 million aggregate principal amount (effective 2023-11-02).

Action: entry
Agreement: underwriting
Counterparty: Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and each of the other underwriters named in Schedule I thereto
Value: $300 million aggregate principal amount
Effective: 2023-11-02

Exact text from the filing

On November 2, 2023, LXP Industrial Trust (the “Trust”) entered into an underwriting agreement (the “Underwriting Agreement”), pursuant to which the Trust agreed to sell to Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and each of the other underwriters named in Schedule I thereto (collectively, the “Underwriters”) $300 million aggregate principal amount of its 6.750% Senior Notes due 2028

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LXP Industrial Trust filing history →

Source: SEC EDGAR

accession 0001539497-23-001842

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