Lexington Realty Trust (NYSE:LXP) Q1 2018 Earnings Conference Call - Preliminary Transcript

May 08, 2018 • 08:30 am ET

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Lexington Realty Trust (NYSE:LXP) Q1 2018 Earnings Conference Call - Preliminary Transcript

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Presentation
Executive
Pat Carroll

rate of approximately 3.8% and a weighted average term of just under seven years. Fixed charge coverage at the end of the quarter was approximately 2.8 times, and leverage decreased to 6.1 times net debt to adjusted EBITDA compared to 6.4 times net debt to adjusted EBITDA last quarter.

During the quarter, we repaid $60 million on our revolving credit facility to end the quarter with $100 million outstanding with a total of $405 million available. At quarter end we had outstanding mortgage debt of $690 million, with a weighted average interest rate of 4.6%, and a weighted average term of slightly over 10 years.

Our unencumbered asset base was approximately $3.4 billion at the end of the quarter, which represented approximately 74% of our NOI as of March 31, 2018.

Now, I'll turn the call back over to Will.

Executive
T. Wilson Eglin

Thanks, Pat.

Operator, I have no further comments at this time, so we are ready for you to conduct the question-and-answer portion of the call.