LXP(US:LXP) Globenewswireยท2025-10-01 11:44Core Viewpoint - LXP Industrial Trust has initiated a tender offer to purchase up to $150 million of its 6.750% Notes due 2028, indicating a strategic move to manage its debt obligations effectively [1][2]. Offer Details - The tender offer is for an aggregate purchase price of up to $150 million, excluding accrued interest and related fees [1]. - The Notes have a principal amount outstanding of $300 million, with a fixed spread of 50 basis points over the reference U.S. Treasury Security [2]. - The early tender premium is set at $30 per $1,000 principal amount of the Notes accepted for purchase [3]. Timeline and Conditions - The offer will expire on October 30, 2025, unless extended or terminated earlier by the company [2]. - Tenders can be withdrawn until 5:00 p.m. on October 15, 2025, after which withdrawal rights are limited [2]. - The total consideration for validly tendered Notes will be determined on October 16, 2025, and will include accrued interest [3][5]. Acceptance and Proration - Notes will be accepted in principal amounts of $2,000 or integral multiples of $1,000 [4]. - If the total purchase price of validly tendered Notes exceeds the tender cap, proration may occur [8]. - Notes tendered before the early tender deadline will be prioritized for acceptance over those tendered afterward [7]. Company Overview - LXP Industrial Trust is a publicly traded REIT focused on Class A warehouse and distribution investments across 12 target markets in the Sunbelt and Midwest [15]. - The company aims to expand its portfolio through acquisitions, development projects, and sale/leaseback transactions [15].