Lexington issued 17.25 million common shares in a public offering, raising net proceeds of approximately $156.3 million. The net proceeds were primarily used to satisfy $150.5 million of outstanding debt on Lexington's credit facilities. In addition, Lexington satisfied $30.1 million in non-recourse mortgage debt which had a weighted-average interest rate of 5.6%.Lexington issued 4.5 million common shares upon conversion of an aggregate of $31.1 million original principal amount of 6.00% Convertible Guaranteed Notes due 2030 and made an aggregate cash payment of $2.4 million plus accrued and unpaid interest on the notes. In January 2013, Lexington converted an additional $35.0 million original principal amount of 6.00% Convertible Guaranteed Notes due 2030 for 5.0 million common shares and a cash payment of approximately $2.3 million plus accrued and unpaid interest.
Lexington Realty Trust Reports Fourth Quarter 2012 Results
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