Alexandria Real Estate Equities, Inc. Announces Public Offering of Senior Notes
Alexandria Real Estate Equities (NYSE: ARE) announced a public offering of senior notes, subject to market conditions. The notes will be unsecured obligations guaranteed by Alexandria Real Estate Equities, L.P. The net proceeds are primarily aimed at refinancing the outstanding 3.900% senior notes due 2023 and may also fund acquisitions, development projects, and reduce credit line balances. This offering is registered under an SEC effective registration statement. Alexandria operates in key innovation clusters, focusing on life science, technology, and agtech real estate.
- The offering allows for refinancing of $2.2 billion in unsecured senior line of credit.
- Net proceeds will support acquisitions and construction, potentially enhancing growth.
- Possible shareholder dilution from the issuance of new senior notes.
PASADENA, Calif., July 29, 2020 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. ("Alexandria" or the "Company") (NYSE: ARE) today announced that it is commencing an underwritten public offering, subject to market conditions, of senior notes (the "notes"). J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Mizuho Securities USA LLC and RBC Capital Markets, LLC will act as joint book-running managers in connection with the public offering. The notes will be unsecured obligations of the Company and fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P., an indirectly
The Company expects the net proceeds from the notes in the offering to be principally used to refinance any and all of the Company's outstanding
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: J.P. Morgan Securities LLC, Attn: Investment Grade Syndicate Desk, at 383 Madison Avenue, 3rd Floor, New York, NY 10179, telephone (collect) 212-834-4533; Goldman Sachs & Co. LLC, Attn: Prospectus Department, at 200 West Street, New York, NY 10282, telephone 866-471-2526, fax 212-902-9316 or email prospectus-ny@ny.email.gs.com; Mizuho Securities USA LLC, Attn: Debt Capital Markets, at 1271 Avenue of the Americas, New York, NY 10020, or telephone 866-271-7403; or RBC Capital Markets, LLC, Attn: Transaction Management Group, at 200 Vesey Street, New York, NY 10281, or telephone (toll-free) 1-866-375-6829.
Alexandria, an S&P 500® urban office real estate investment trust, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, 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 – Corporate Communications, (626) 788-5578, skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.
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