PASADENA, Calif., Jan. 30,
2025 /PRNewswire/ -- Alexandria Real Estate Equities,
Inc. ("Alexandria" or the
"Company") (NYSE: ARE) today announced that it has priced a public
offering of $550,000,000 aggregate
principal amount of 5.50% senior notes due 2035 (the "notes").
Goldman Sachs & Co. LLC, BofA Securities, Inc., Citigroup
Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital
Markets, LLC, Barclays Capital Inc., Mizuho Securities USA LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America,
Inc., TD Securities (USA) LLC and
U.S. Bancorp Investments, Inc. are acting as joint book-running
managers in connection with the public offering, and BBVA
Securities Inc., BMO Capital Markets Corp., BNP Paribas Securities
Corp., Capital One Securities, Inc., Evercore Group L.L.C., Fifth
Third Securities, Inc., Huntington Securities, Inc., PNC Capital
Markets LLC, Regions Securities LLC, Samuel
A. Ramirez & Company, Inc. and Truist Securities, Inc.
are acting as co-managers in connection with the public
offering.
The notes were priced at 99.733% of the principal amount with a
yield to maturity of 5.532%. The notes will be unsecured
obligations of the Company and fully and unconditionally guaranteed
by Alexandria Real Estate Equities, L.P., an indirectly 100% owned
subsidiary of the Company. The closing of the sale of the notes is
expected to occur on or about February 13,
2025, subject to customary closing conditions.
The net proceeds from the notes will be used to redeem or repay
at maturity all or a portion of the Company's 3.45% Senior Notes
due 2025, which mature on April 30,
2025. Pending such use, the Company will invest the net
proceeds in high-quality short-term securities and/or will use such
proceeds temporarily for general working capital and other general
corporate purposes, which may include the reduction of the
outstanding balance, if any, on the Company's unsecured senior line
of credit, the reduction of the outstanding indebtedness, if any,
under the Company's commercial paper program, the repayment of
other debt and the selective development, redevelopment or
acquisition of properties. Any net proceeds received from the sale
of the notes in excess of the amount necessary to redeem or repay
at maturity the 3.45% Senior Notes due 2025 will be used for
general working capital and other general corporate purposes, as
described above.
The notes are being offered pursuant to an effective
registration statement on Form S-3 that was previously filed with
the Securities and Exchange Commission. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
any of the Company's notes, nor shall there be any sale of the
notes in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such state.
Copies of the prospectus supplement relating to this offering,
when available, may be obtained by contacting: Goldman Sachs &
Co. LLC, Attn: Prospectus Department, at 200 West Street,
New York, NY 10282, by toll-free
telephone at (866) 471-2526, by fax at (212) 902-9316 or by email
at prospectus-ny@ny.email.gs.com; BofA Securities, Inc., 201 North
Tryon Street, NC1-022-02-25, Charlotte
NC 28255-0001, Attn: Prospectus Department, Toll-free:
1-800-294-1322, E-mail: dg.prospectus_requests@bofa.com; Citigroup
Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717,
telephone: 1-800-831-9146 or email: prospectus@citi.com; J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY
11717 or by email at prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com; or RBC Capital Markets, LLC,
Attn: Syndicate Operations, at 200 Vesey Street, 8th Floor,
New York, NY 10281, by toll-free
telephone at (866) 375-6829, by fax at (212) 428-6308 or by email
at rbcnyfixedincomeprospectus@rbccm.com.
About Alexandria Real Estate Equities,
Inc.
Alexandria, an S&P
500® company, is a best-in-class, mission-driven life
science REIT making a positive and lasting impact on the world.
With our founding in 1994, Alexandria pioneered the life science real
estate niche. Alexandria is the
preeminent and longest-tenured owner, operator and developer of
collaborative Megacampus™ ecosystems in AAA life science
innovation cluster locations, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City. For more information, please
visit www.are.com.
Forward-Looking Statements
This press release includes
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Such forward-looking
statements include, without limitation, statements regarding the
Company's offering of the notes and its intended use of the
proceeds. These forward-looking statements are based on the
Company's present intent, beliefs or expectations, but
forward-looking statements are not guaranteed to occur and may not
occur. Actual results may differ materially from those contained in
or implied by the Company's forward-looking statements as a result
of a variety of factors, including, without limitation, the risks
and uncertainties detailed in its filings with the Securities and
Exchange Commission. All forward-looking statements are made as of
the date of this press release, and the Company assumes no
obligation to update this information. For more discussion relating
to risks and uncertainties that could cause actual results to
differ materially from those anticipated in the Company's
forward-looking statements, and risks and uncertainties to the
Company's business in general, please refer to the Company's
filings with the Securities and Exchange Commission, including its
most recent annual report on Form 10-K and any subsequently filed
quarterly reports on Form 10-Q.
CONTACT: Sara
Kabakoff, Senior Vice President – Chief Content Officer,
(626) 788-5578, skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.
