Item 1.01. Entry into a Material Definitive Agreement.
On May 13, 2014, Lexington Realty Trust, which we refer to as the Trust, and its
operating partnership, Lepercq Corporate Income Fund L.P., which we refer to as
LCIF, entered into an underwriting agreement, which we refer to as the
Underwriting Agreement, pursuant to which the Trust agreed to sell to J.P.
Morgan Securities LLC, Wells Fargo Securities, LLC and the each of the other
underwriters named in Schedule I thereto, which we refer to collectively as the
Underwriters, $250.0 million aggregate principal amount of its 4.40% Senior
Notes due 2024, which we refer to as the Notes. The Notes were issued by the
Trust at an initial offering price of 99.883% of their face value.
The Underwriting Agreement contains customary representations, warranties,
covenants and indemnification provisions. The Notes were sold pursuant to an
automatically effective registration statement on Form S-3ASR (File No.
333-183645) filed with the Securities and Exchange Commission (the "SEC") on
August 30, 2012, as amended by Post-Effective Amendment No.1, filed with the SEC
on May 8, 2014, relating to the public offering from time to time of certain
securities, including the Notes, pursuant to Rule 415 of the Securities Act of
1933, as amended, a preliminary prospectus supplement dated May 13, 2014 and a
related final prospectus supplement dated May 13, 2014. The closing of the
offering and delivery of the Notes are expected to take place on May 20, 2014,
subject to the satisfaction of customary closing conditions.
The proceeds from the offering, after deducting discounts of the underwriters of
the Notes, but before other offering expenses, are estimated to be approximately
$ 248.1 million. The Trust intends to use the net proceeds from the sale of the
Notes to repay secured indebtedness, pay down amounts outstanding under its
revolving credit facility and for other general corporate purposes
A copy of the Underwriting Agreement is attached to this Current Report on Form
8-K, which we refer to as this Current Report, as Exhibit 1.1 and is
incorporated herein by reference. The foregoing description of the Underwriting
Agreement is qualified in its entirety by reference to the full text of the
Item 8.01. Other Information.
On May 13, 2014, the Company issued a press release announcing the pricing of
the underwritten transaction described in Item 1.01 above. A copy of the press
release is attached to this Current Report as Exhibit 99.1 and is incorporated
herein by reference.
Item 9.01. Financial Statements and Exhibits
1.1 Underwriting Agreement, dated May 13, 2014
, among the Trust, LCIF, J.P.
Morgan Securities LLC, Wells Fargo Securities, LLC and each of the other
underwriters named in Schedule I thereto.
99.1 Press Release, dated May 13, 2014