Lexington Realty Trust adjusts conversion rate for 6% convertibles

By Angela McDaniels

Tacoma, Wash., July 2 – Lexington Realty Trust adjusted the conversion rate for its 6% convertible guaranteed notes due 2030 to 153.8603 common shares per $1,000 principal amount of the notes, according to an 8-K filing with the Securities and Exchange Commission.

The adjustment became effective Wednesday.

The new conversion price is $6.50 per share. The company’s common stock closed at $8.46 (NYSE: LXP) on Thursday.

Lexington is a New York-based real estate investment trust for office, industrial and retail properties.

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