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Lexington Realty announces final tender results for 2023, 2024 notes
By Taylor Fox
New York, Sept. 14 – Lexington Realty Trust announced the expiration and final results for its cash tender offers to purchase up to $300 million combined principal amount of its outstanding 4.25% senior notes due 2023 (Cusip: 529043AC5) and 4.4% senior notes due 2024 (Cusip: 529043AD3), according to a news release.
The offers expired at 11:59 p.m. ET on Sept. 11.
The principal amount of the 2023 notes validly tendered and not validly withdrawn after the early tender deadline of 5 p.m. ET on Aug. 27 was $155,000, all of which was accepted, and the principal amount of the 2024 notes validly tendered and not validly withdrawn after the early tender deadline was $150,000, all of which was accepted.
As previously reported, the principal amount of the 2023 notes validly tendered and not validly withdrawn before the early tender deadline was $61,089,000, all of which was accepted, and the principal amount of the 2024 notes validly tendered and not validly withdrawn before the early tender deadline was $50,918,000, all of which was accepted.
The total consideration to be paid per $1,000 principal amount is $1,071.25 for the 2023 notes and $1,093.75 for the 2024 notes, plus interest, for notes tendered prior to the early tender deadline. The amount includes a $30.00 early tender premium per $1,000 par of notes. Notes tendered after the early tender deadline did not receive the early tender premium.
Settlement is expected to occur on Sept. 15.
Wells Fargo Securities, LLC (866 309-6316, 704 410-4759 or liabilitymanagement@wellsfargo.com) is the dealer manager for the tender offers.
D.F. King & Co., Inc. (800 591-6309, 212 269-5550 for banks and brokers or lxp@dfking.com) is the tender and information agent.
The single-tenant industrial real estate investment trust is based in New York.
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