LXP Industrial Trust (LXP), Wednesday announced the commencement of a tender offer to purchase for cash an amount of its 6.750 percent Notes due 2028 for a price of upto $150 million.
The offer will expire on October 30, 2025.
Concurrently, the company announced the sale of two vacant development projects in Florida and Indiana for $175 million.
The company expects to receive approximately $151 million after deducting minority partner distributions and transaction costs, which will be utilized for debt repayment and other general corporate purposes.
In the pre-market hours, LXP is trading at $9.07, up 1.23 percent on the New York Stock Exchange.
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