PASADENA, Calif., Feb. 2, 2023
/PRNewswire/ -- Alexandria Real Estate Equities, Inc.
("Alexandria" or the "Company")
(NYSE: ARE) today announced that it has priced a public offering of
$500,000,000 aggregate principal
amount of 4.750% senior notes due 2035 and $500,000,000 aggregate principal amount of 5.150%
senior notes due 2053 (the "notes"). Goldman Sachs & Co. LLC,
BofA Securities, Inc., Citigroup Global Markets Inc., RBC Capital
Markets, LLC, BBVA Securities Inc., Capital One Securities, Inc.,
Evercore Group L.L.C., Mizuho Securities USA LLC, Regions Securities LLC, Scotia
Capital (USA) Inc., SMBC Nikko
Securities America, Inc. and Truist Securities, Inc. are acting as
joint book-running managers in connection with the public offering,
and Barclays Capital Inc., BMO Capital Markets Corp., Fifth Third
Securities, Inc., Huntington Securities, Inc., PNC Capital Markets
LLC, TD Securities (USA) LLC and
Samuel A. Ramirez & Company,
Inc. are acting as co–managers in connection with the public
offering.
The senior notes due 2035 were priced at 99.741% of the
principal amount with a yield to maturity of 4.777% and the senior
notes due 2053 were priced at 99.500% of the principal amount with
a yield to maturity of 5.182%. 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 16,
2023, subject to customary closing conditions.
The net proceeds from the 4.750% senior notes due 2035 will
initially be used for 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. In addition, following
the initial allocation of the net proceeds described above, the
Company will allocate an amount equal to the net proceeds from the
4.750% senior notes due 2035 to fund, in whole or in part, recently
completed and future eligible green projects, which are defined as
certain development, redevelopment or tenant improvement projects
that have received or are expected to receive Gold or Platinum LEED
certification, including the development and redevelopment of such
projects.
The net proceeds from the 5.150% senior notes due 2053 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 telephone
at (866) 471-2526, by fax at (212) 902-9316 or by email at
prospectus-ny@ny.email.gs.com; BofA Securities, Inc.,
NC1-004-03-43, Attn: Prospectus Department, at 200 North College
Street, 3rd Floor, Charlotte, NC
28255-0001 or by email at dg.prospectus_requests@bofa.com;
Citigroup Global Markets Inc., Attn: 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; 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.
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 technology campuses in
AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San
Diego, Seattle,
Maryland and Research
Triangle.
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, Vice President – Strategic Communications, (626)
788-5578, skabakoff@are.com
View original
content:https://www.prnewswire.com/news-releases/alexandria-real-estate-equities-inc-announces-pricing-of-public-offering-of-500-000-000-of-senior-notes-due-2035-500-000-000-of-senior-notes-due-2053--301738042.html
SOURCE Alexandria Real Estate Equities, Inc.