Lexington Realty buys back $29.2 million more 5.45% exchangeables

By Jennifer Chiou

New York, Nov. 6 - Lexington Realty Trust repurchased $29.2 million more of its 5.45% exchangeable notes due 2027 during the third quarter ended Sept. 30, according to a 10-Q filed Friday with the Securities and Exchange Commission.

The company paid $24.8 million for the notes.

Through Sept. 30, the company has repurchased $105.8 million original principal amount of the notes for $84.2 million, which resulted in a gain of $17.2 million, including the write-off of $4.4 million of the debt discount and deferred financing costs.

Lexington issued $450 million of the exchangeables in 2007. There was $105.2 million of the notes outstanding as of Sept. 30.

Lexington Realty is a New York-based real estate investment trust.

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