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News  ›  GlobeNewswire Inc.

LXP Industrial Trust Closes on $600 Million Unsecured Revolving Credit Facility and $250 Million Unsecured Term Loan

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LXP Industrial Trust Closes on $600 Million Unsecured Revolving Credit Facility and $250 Million Unsecured Term Loan

LXP Industrial Trust successfully closed a $600 million unsecured revolving credit facility and refinanced a $250 million unsecured term loan. The new facilities extend the company's debt maturity profile and reduce borrowing costs, with interest rates declining from previous levels. The refinancing reflects improved credit metrics, with leverage reduced to approximately 5x net debt to Adjusted EBITDA, and S&P Global Ratings recently revised LXP's outlook to positive.

Insights
LXP   positive

The company successfully refinanced debt at lower interest rates (SOFR+77.5bps vs SOFR+95bps for revolving facility; SOFR+85bps vs 110bps for term loan), extended maturity dates, reduced leverage to 5x net debt to Adjusted EBITDA, and received a positive outlook revision from S&P Global Ratings. These developments strengthen the balance sheet and financial flexibility.