UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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The Securities Exchange Act of 1934
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On August 30, 2021, Lexington Realty Trust (the “Trust”) entered into a third supplemental indenture (the “Third Supplemental Indenture”) with U.S. Bank National Association, as trustee (the “Trustee”) which supplements the base indenture, dated as of May 9, 2014 by and among the Trust, certain subsidiaries of the Trust and the Trustee (the “Base Indenture,” and together with the Third Supplemental Indenture, the “Indenture”), in connection with the issuance by the Trust of $400.0 million aggregate principal amount of its 2.375% Senior Notes due 2031 (the “Notes”). The Indenture governs the terms of the Notes. The Notes mature on October 1, 2031, and accrue interest at a rate of 2.375% per annum, payable semi-annually on April 1 and October 1 of each year, commencing April 1, 2022.
Prior to July 1, 2031, the Trust may redeem the Notes, in whole or in part at any time and from time to time, at its option, at a redemption price equal to the greater of (1) 100% of the aggregate principal amount of the Notes being redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the date of redemption) discounted to its present value, on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at an adjusted treasury rate (as defined in the Third Supplemental Indenture) plus twenty basis points, plus, in each case, accrued and unpaid interest thereon to, but not including, the date of redemption. At any time on or after July 1, 2031, the Notes will be redeemable, in whole or in part at any time and from time to time, at the Trust’s option, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest on the amount being redeemed to, but not including, the date of redemption.
A copy of the Base Indenture is attached as Exhibit 4.1 to the Current Report on Form 8-K, filed with the Securities and Exchange Commission on May 13, 2014, the Third Supplemental Indenture is attached to this Current Report on Form 8-K (this “Current Report”) as Exhibit 4.1 and both are incorporated herein by reference. The foregoing description of the Base Indenture and the Third Supplemental Indenture is qualified in its entirety by reference to the full text of the respective documents.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information contained in (or incorporated by reference into) Item 1.01 of this Current Report is hereby incorporated by reference into this Item 2.03.
| Item 8.01. | Other Information. |
Opinions
Paul Hastings LLP and Venable LLP, counsel and Maryland counsel to the Trust, respectively, have issued opinions to the Trust dated August 30, 2021, regarding the Notes. Additionally, Paul Hastings LLP has issued a separate opinion to the Trust dated August 30, 2021, regarding tax matters related to the Notes. Copies of the opinions are filed as Exhibits 5.1, 5.2 and 8.1 hereto, respectively.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
| 4.1 | Third Supplemental Indenture, dated as of August 30, 2021, between the Trust and U.S. Bank National Association, as trustee. |
| 5.1 | Opinion of Paul Hastings LLP. |
| 5.2 | Opinion of Venable LLP. |
| 8.1 | Opinion of Paul Hastings LLP regarding tax matters. |
| 23.1 | Consent of Paul Hastings LLP (included in Exhibits 5.1 and 8.1). |
| 23.2 | Consent of Venable LLP (included in Exhibit 5.2). |
| 104 | Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Lexington Realty Trust | |
| Date: August 30, 2021 | By: /s/ Beth Boulerice Beth Boulerice Chief Financial Officer |