New Issue: Lexington Realty sells $250 million 4.25% 10-year notes at Treasuries plus 225 bps

By Andrea Heisinger

New York, June 4 - Lexington Realty Trust sold $250 million of 4.25% 10-year notes (Baa2/BBB-/) in Monday's market at a spread of 225 basis points over Treasuries, an informed source said Tuesday.

Pricing was at 99.026 to yield 4.371%. There is a make-whole call at Treasuries plus 35 bps until March 15, 2023, with a par call after that date.

The sale was done under Rule 144A and Regulation S.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC were the active bookrunners. Barclays was a passive bookrunner.

The real estate investment trust for office, industrial and retail properties is based in New York City.

Issuer:	Lexington Realty Trust
Issue:	Senior notes
Amount:	$250 million
Maturity:	June 15, 2023
Bookrunners:	J.P. Morgan Securities LLC, Wells Fargo Securities LLC (active), Barclays (passive)
Senior co-managers:	KeyBanc Capital Markets Inc., BofA Merrill Lynch
Co-managers:	BB&T Capital Markets LLC, Capital One, Fifth Third Securities Inc., PNC Capital Markets LLC, RBS Securities Inc., Regions Financial, TD Securities USA Inc., U.S. Bancorp Investments Inc.
Coupon:	4.25%
Price:	99.026
Yield:	4.371%
Spread:	Treasuries plus 225 bps
Call:	Make-whole at Treasuries plus 35 bps until March 15, 2023, par call after
Distribution:	Rule 144A, Regulation S
Trade date:	June 3
Settlement date:	June 10
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB-

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