Lexington Realty amends loan to allow $50 million of stock buybacks

By Angela McDaniels

Tacoma, Wash., July 2 – Lexington Realty Trust amended its credit agreement on Thursday to add a clause that permits the trust to redeem or repurchase up to $50 million of common stock during the term of the credit agreement, according to an 8-K filing with the Securities and Exchange Commission.

On Thursday, the trust’s board of trustees authorized a repurchase plan for the repurchase of up to 10 million common shares of beneficial interest.

KeyBank NA is the administrative agent for the credit agreement.

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

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