NEW YORK, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Lexington Realty Trust (NYSE:LXP), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that it has priced an underwritten public offering of $400 million aggregate principal amount of 2.700% senior unsecured notes due September 15, 2030 at a price equal to 99.233% of the principal amount, to yield 2.788%.

The offering is subject to the satisfaction of customary closing conditions and is expected to close on August 28, 2020.

Lexington intends to use the net proceeds from the offering to fund the previously announced tender offers for up to the maximum combined aggregate principal amount of $300 million of its outstanding 4.25% senior notes due 2023 and 4.40% senior notes due 2024, with any remaining net proceeds to be used for general corporate purposes, including, without limitation, paying down amounts outstanding under its revolving credit facility and acquisitions it may identify in the future.

Wells Fargo Securities, LLC and J.P. Morgan Securities LLC, BofA Securities, Inc., Jefferies LLC, KeyBanc Capital Markets Inc., Regions Securities LLC, TD Securities (USA) LLC and U.S. Bancorp Investments, Inc. are acting as joint book-running managers of the offering and Mizuho Securities USA LLC, Stifel, Nicolaus & Company, Incorporated, Truist Securities, Inc., FHN Financial Securities Corp. and Samuel A. Ramirez & Company, Inc. are acting as co-managers of the offering.

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. Lexington seeks to expand its industrial portfolio through build-to-suit transactions, sale-leaseback transactions, development projects and other transactions, including acquisitions.