Lexington Realty Trust Launches Public Offering Of 10 Mln Shares

(RTTNews) - Lexington Realty Trust (LXP) said Thursday that it has commenced an underwritten public offering of 10 million common shares.

In connection with the offering, Lexington has granted the underwriters of the offering a 30-day option to purchase up to an additional 1.5 million common shares.

Lexington expects to use all of the net proceeds of the offering to pay down the amounts outstanding under its unsecured revolving credit facility, a portion of which was used to fund the previously announced acquisition of the three long-term leased land parcels in New York, New York.