Ninestar to sell and lease back Lexmark properties

March 18, 2024

Ninestar Co., Ltd. announced a significant sale and leaseback transaction involving its overseas holding subsidiary, Lexmark International Inc.

Lexmark International Inc. has entered into two major transactions as part of this strategy. The first transaction involves the sale and subsequent leaseback of selected properties located at its headquarters park in Lexington, Kentucky, USA.

This deal, valued at $126.948 million (€116,499 million), sees Lexmark leasing back the properties, with an annual rent increase of 3% upon lease renewal. This arrangement secures Lexmark a steady operational base while freeing up significant capital.

The second transaction, still in the negotiation phase, targets properties in Cebu Business Park, Philippines. Expected not to exceed $80 million (€73 million). The specifics of the leaseback amount remain to be determined.

The counterparty for the Kentucky transaction is Lexington Campus SLB LLC, backed by Sculptor Capital Management, a substantial asset investment firm.

Categories : City News

Tags : Capital Cash Generation Lease Back Lexmark Ninestar Sale