Lexington Realty to buy back some debt with stock sale proceeds

By Jennifer Chiou

New York, June 25 - Lexington Realty Trust said that it expects to use proceeds from a public offering of 2.5 million of its common shares to repurchase a portion of its debt securities.

The company added that it plans to grant the underwriters a 30-day option to purchase up to an additional 375,000 common shares to cover over-allotments.

Lexington stock closed at $14.20 on Wednesday.

The company is a New York-based real estate investment trust that focuses on non-residential properties.

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