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

Rhea-AI Summary

LXP Industrial Trust (NYSE:LXP) closed a $600 million senior unsecured revolving credit facility and refinanced a $250 million unsecured term loan on January 14, 2026. The revolver matures January 31, 2030, with optional extensions; interest is SOFR +77.5 bps (down from +95 bps) and a 15 bps facility fee (down from 20 bps). The term loan matures January 31, 2029, with two one-year extension options and interest of SOFR +85 bps (down from 110 bps). Management said the deals extend maturities, lower interest costs and build on 2025 balance-sheet progress, including leverage reduced to ~5x net debt to Adjusted EBITDA.

Positive

• Closed $600M senior unsecured revolving credit facility
• Refinanced $250M unsecured term loan
• Revolver pricing cut to SOFR +77.5 bps from +95 bps
• Term loan pricing cut to SOFR +85 bps from +110 bps
• Facility fee reduced to 15 bps from 20 bps
• Extended debt maturities to Jan 31, 2029–2030

Negative

• Consolidated leverage remains ~5x net debt to Adjusted EBITDA

News Market Reaction

-0.04%

1 alert

-0.04% News Effect

On the day this news was published, LXP declined 0.04%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Revolving credit facility: $600 million Term loan: $250 million Revolver maturity: January 31, 2030 +5 more

8 metrics

Revolving credit facility $600 million Senior unsecured revolving credit facility size

Term loan $250 million Unsecured term loan principal amount

Revolver maturity January 31, 2030 Initial maturity of new revolving credit facility

Revolver spread SOFR + 77.5 bps Interest rate over SOFR on revolver based on current leverage and ratings

Prior revolver spread SOFR + 95 bps Interest rate over SOFR under previous revolver

Facility fee 15 bps Facility fee on total revolver commitments (reduced from 20 bps)

Term loan spread SOFR + 85 bps Interest rate over SOFR on refinanced term loan

Leverage approximately five times Net debt to Adjusted EBITDA in 2025 per CFO comment

Market Reality Check

Price: $49.26 Vol: Volume 334,265 is below t...

low vol

$49.26 Last Close

Volume Volume 334,265 is below the 20-day average of 600,021, suggesting limited pre-news positioning. low

Technical Price at $50.22 is trading above the 200-day MA of $44.28 and about 4% below the 52-week high of $52.52.

Peers on Argus

Ahead of this balance sheet news, LXP slipped 0.06% while key REIT peers like TR...

Ahead of this balance sheet news, LXP slipped 0.06% while key REIT peers like TRNO, FR, NSA and COLD showed small gains between 0.06% and 0.59%, and STAG declined 0.48%. The mixed but generally positive peer tape contrasts with LXP’s flat-to-slightly-negative move, pointing to a stock-specific setup rather than a sector-wide driver.

Historical Context

5 past events · Latest: Nov 10 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 10	Reverse stock split	Neutral	-1.4%	Implemented 1-for-5 reverse split, reducing share count proportionally.
Oct 30	Quarterly earnings	Positive	+2.3%	Reported Q3 2025 results, asset sales at premium and dividend increase.
Oct 16	Tender offer pricing	Positive	+1.2%	Priced cash tender, accepting about $140M of 6.750% notes due 2028.
Oct 15	Tender offer update	Positive	+1.2%	Early tender results exceeded cap for $150M note repurchase offer.
Oct 06	Earnings call notice	Neutral	-0.6%	Announced timing and access details for Q3 2025 earnings call.

Pattern Detected

Recent news skewed toward capital structure actions and an earnings beat-type quarter, with generally positive or modestly positive price reactions, except for a mild pullback on the reverse split.

Recent Company History

Over the last few months, LXP has focused on capital structure and earnings execution. In October 2025, it announced and then priced a cash tender offer for up to $150,000,000 of 6.750% Notes due 2028, with about $140,000,000 principal ultimately accepted. Its Q3 2025 results on October 30, 2025 highlighted net income of $34.6 million, Adjusted Company FFO of $46.7 million, asset sales at a premium, debt repayment and a dividend increase. A 1-for-5 reverse share split completed on November 10, 2025. Today’s refinancing of the revolver and term loan continues this balance sheet optimization theme.

Market Pulse Summary

This announcement details a refinancing that extends LXP’s debt maturities and trims borrowing costs...

Analysis

This announcement details a refinancing that extends LXP’s debt maturities and trims borrowing costs on a $600 million unsecured revolver and $250 million term loan. Spreads over SOFR and facility fees were reduced, and management cites leverage of roughly five times net debt to Adjusted EBITDA along with a recent positive outlook revision from S&P Global Ratings. In the context of prior note tenders and the reverse split, investors may track future debt actions, leasing trends, and credit rating changes as key indicators.

Key Terms

senior unsecured revolving credit facility, unsecured term loan, sofr, basis points, +4 more

8 terms

senior unsecured revolving credit facility financial

"announced it has closed a $600 million senior unsecured revolving credit facility."

A senior unsecured revolving credit facility is a bank loan line that a company can draw, repay and redraw up to an agreed limit, similar to a company credit card. It is “senior” because lenders are paid before other creditors if the company fails, and “unsecured” because it isn’t backed by specific assets; investors watch it for signals about a company’s short-term cash flexibility, borrowing cost and financial risk.

unsecured term loan financial

"announced the refinancing of its $250 million unsecured term loan"

An unsecured term loan is a fixed-schedule loan that a borrower must repay over a set period but does not pledge specific assets as collateral. Think of it like lending money to someone on their promise rather than holding their car keys as backup. Investors care because these loans carry higher risk and therefore higher interest, have lower priority if the borrower fails, and affect a company’s cash flow and ability to raise future financing.

sofr financial

"provides for an interest rate of SOFR plus 77.5 basis points"

The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.

basis points financial

"SOFR plus 77.5 basis points, based on LXP's current consolidated leverage ratio"

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

consolidated leverage ratio financial

"based on LXP's current consolidated leverage ratio and credit ratings"

A consolidated leverage ratio measures a business group's total debt compared with its ability to pay, by using combined figures for the parent company and its subsidiaries. Think of it like comparing the total mortgage across all properties you own to your overall income or net worth; investors use it to judge how risky the company’s capital structure is and how vulnerable it may be to rising interest rates or income drops.

credit ratings financial

"based on LXP's current consolidated leverage ratio and credit ratings"

A credit rating is a short, standardized judgment about how likely a borrower is to repay debt, similar to a report-card grade for loans. Investors use these grades to judge risk quickly: higher ratings signal lower chance of default and usually lower interest costs, while lower ratings mean more risk, higher yields, and potential price drops — so ratings help decide whether a bond or loan fits an investor’s risk tolerance.

adjusted ebitda financial

"reducing leverage to approximately five times net debt to Adjusted EBITDA"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

facility fee financial

"The facility also provides for a facility fee of 15 basis points"

A facility fee is a charge billed by a hospital or clinic for use of its buildings, equipment and support services when a patient receives care, separate from the fee paid to the treating doctor. For investors, it matters because these charges are a steady revenue stream that can boost margins and cash flow, but they are also sensitive to changes in insurance reimbursement rules and regulatory scrutiny—think of it as a venue rental fee separate from the performer’s paycheck.

AI-generated analysis. Not financial advice.

Extends Maturity and Reduces Pricing on Unsecured Revolving Credit Facility and Term Loan

WEST PALM BEACH, Fla., Jan. 14, 2026 (GLOBE NEWSWIRE) -- LXP Industrial Trust (“LXP”) (NYSE:LXP), a real estate investment trust focused on Class A warehouse and distribution real estate investments, today announced it has closed a $600 million senior unsecured revolving credit facility. The facility amends and restates LXP’s previous unsecured revolving credit facility.

The new revolving credit facility matures on January 31, 2030, with the option to extend the maturity for two successive six-month terms or one twelve-month term, at LXP’s discretion, subject to certain conditions. The facility provides for an interest rate of SOFR plus 77.5 basis points, based on LXP's current consolidated leverage ratio and credit ratings, reduced from SOFR plus 95 basis points under the previous facility. The facility also provides for a facility fee of 15 basis points of total commitments, reduced from 20 basis points under the previous facility.

LXP also announced the refinancing of its $250 million unsecured term loan with an initial maturity date of January 31, 2029, with two one-year extension options at LXP's discretion, subject to certain conditions. The term loan provides for an interest rate of SOFR plus 85 basis points, based on the Company's current consolidated leverage ratio and credit ratings, reduced from 110 basis points under the previous facility.

Nathan Brunner, Chief Financial Officer of LXP, commented, “The new debt facilities extend our debt maturity profile and reduce our interest costs, further strengthening our balance sheet and increasing our financial flexibility. This builds on the balance sheet progress we achieved in 2025, including reducing leverage to approximately five times net debt to Adjusted EBITDA, as recognized by the recent action by S&P Global Ratings to revise LXP’s outlook to positive. We appreciate the ongoing support of our bank group and their continued confidence in LXP.”

KeyBanc Capital Markets, Inc., Wells Fargo Securities, LLC and Regions Capital Markets served as the Joint Lead Arrangers and Joint Bookrunners. KeyBank National Association is the Administrative Agent and Wells Fargo Bank, National Association and Regions Bank served as Syndication Agents. Bank Of America, N.A., Citizens Bank, N.A., Mizuho Bank, Ltd., JPMorgan Chase Bank, N.A., PNC Bank, National Association, TD Bank, N.A. and U.S. Bank National Association acted as Documentation Agents, with Associated Bank, National Association also participating in the transaction.

ABOUT LXP INDUSTRIAL TRUST

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and lower Midwest. LXP seeks to expand its warehouse and distribution portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions. For more information, including LXP's Quarterly Supplemental Information package, or to follow LXP on social media, visit www.lxp.com.

Contact:

Investor or Media Inquiries for LXP Industrial Trust:
Heather Gentry, Executive Vice President of Investor Relations
LXP Industrial Trust
Phone: (212) 692-7200 E-mail: hgentry@lxp.com

This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements, including, but not limited to, statements regarding the use of proceeds from the sale. Such forward-looking statements involve known and unknown risks, uncertainties and other factors not under LXP's control which may cause actual results, performance or achievements of LXP to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in LXP's periodic filings with the SEC. Except as required by law, LXP undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events.

FAQ

What did LXP (NYSE:LXP) announce on January 14, 2026?

LXP closed a $600M unsecured revolver and refinanced a $250M unsecured term loan.

What are the new interest rates for LXP's credit facilities (LXP)?

The revolver is SOFR +77.5 bps and the term loan is SOFR +85 bps based on current leverage and ratings.

When do LXP's new credit facilities mature for NYSE:LXP?

The revolver matures January 31, 2030 (with extension options); the term loan matures January 31, 2029 (with extension options).

How do LXP's new facilities affect shareholder financial flexibility?

Management says the deals extend maturities and reduce interest costs, strengthening the balance sheet and financial flexibility.

Who led LXP's credit facility transaction for LXP (NYSE:LXP)?

KeyBanc Capital Markets, Wells Fargo Securities and Regions Capital Markets served as joint lead arrangers and bookrunners.