PASADENA, Calif., Feb. 1, 2024
/PRNewswire/ -- Alexandria Real Estate Equities, Inc.
("Alexandria" or the "Company")
(NYSE: ARE) today announced that it has priced a public offering of
$400,000,000 aggregate principal
amount of 5.250% senior notes due 2036 and $600,000,000 aggregate principal amount of 5.625%
senior notes due 2054 (collectively, 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 senior notes due 2036 were priced at 99.787% of the
principal amount with a yield to maturity of 5.271%, and the senior
notes due 2054 were priced at 99.943% of the principal amount with
a yield to maturity of 5.627%. 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 15,
2024, subject to customary closing conditions.
The net proceeds from the notes will be used 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.
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, at 1155 Long Island Avenue,
Edgewood, NY 11717, by toll-free
telephone at (800) 831-9146 or by email at prospectus@citi.com;
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone:
1-866-803-9204; 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. As
the pioneer of the life science real estate niche since its
founding in 1994, Alexandria is
the preeminent and longest-tenured owner, operator, and developer
of collaborative life science, agtech and advanced technology mega
campuses in AAA innovation cluster locations, including
Greater Boston, the San Francisco Bay Area, New York City, San
Diego, Seattle,
Maryland and Research
Triangle.
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.