Lexington Realty Trust adjusts conversion rate of 6% convertibles

By Angela McDaniels

Tacoma, Wash., July 5 – Lexington Realty Trust adjusted the conversion rate of its $11.9 million 6% convertible guaranteed notes due 2030 to 159.0145 common shares per $1,000 principal amount of the notes on Friday, according to an 8-K filing with the Securities and Exchange Commission.

The new conversion price is $6.29 per common share. The company’s stock closed at $10.14 (NYSE: LXP) on Tuesday.

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

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