Alexandria Real Estate Equities, Inc. Announces Redemption of Its Outstanding 4.000% Senior Notes Due 2024

Rhea-AI Summary

Alexandria Real Estate Equities (NYSE: ARE) announced its plan to redeem all outstanding 4.000% Senior Notes due 2024, with $64,603,000 principal amount remaining. The redemption date is set for March 12, 2021. The price will be at par plus a make-whole premium and accrued interest. Alexandria focuses on life science, technology, and agtech campuses in major innovation clusters. The company highlights potential risks in its forward-looking statements concerning market conditions and other factors. Investors are encouraged to review Alexandria's SEC filings for more details.

Positive

• Redemption of $64,603,000 in Senior Notes enhances financial flexibility.
• Strategic focus on collaborative life science and technology campuses in key markets.

Negative

• Forward-looking statements indicate potential risks and uncertainties affecting future performance.

PASADENA, Calif., Feb. 10, 2021 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. ("Alexandria" or the "Company") (NYSE: ARE) today announced its intention to redeem all of its outstanding 4.000% Senior Notes due 2024 (CUSIP No. 015271 AM1) (the "Notes"), pursuant to its option under the Indenture, dated as of March 3, 2017 (the "Base Indenture"), by and among the Company, Alexandria Real Estate Equities, L.P., as guarantor (the "Guarantor"), and Truist Bank (f/k/a Branch Banking and Trust Company), as trustee (the "Trustee"), as amended and supplemented by Supplemental Indenture No. 3, dated as of June 21, 2018, by and among the Company, the Guarantor and the Trustee, and Supplemental Indenture No. 7, dated as of March 21, 2019, by and among the Company, the Guarantor and the Trustee. The redemption date is March 12, 2021 (the "Redemption Date"), and the redemption price is equal to par plus a make-whole premium, plus accrued and unpaid interest thereon, to, but not including, the Redemption Date, in accordance with the terms of the Notes. As of the date hereof, there was $64,603,000 aggregate principal amount of the Notes outstanding, including Notes tendered pursuant to a Notice of Guaranteed Delivery (as defined in the Company's Offer to Purchase, dated February 3, 2021 (the "Offer to Purchase") that are intended to be purchased on the Guaranteed Delivery Settlement Date (as defined in the Offer to Purchase).

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 timing and consummation of the purchase of Notes and risks and uncertainties related to market conditions and satisfaction of customary closing conditions related to the purchase of Notes. 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 the Offer to Purchase and in the Company's 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 – Communications, (626) 788-5578, skabakoff@are.com

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SOURCE Alexandria Real Estate Equities, Inc.

FAQ

What is the redemption date for Alexandria Real Estate Equities' Senior Notes?

The redemption date for Alexandria's Senior Notes is set for March 12, 2021.

How much principal amount of Senior Notes is Alexandria redeeming?

Alexandria is redeeming a total of $64,603,000 in Senior Notes.

What are the key risks mentioned in Alexandria's press release?

The press release mentions potential risks related to market conditions and other uncertainties.

What is Alexandria Real Estate Equities’ focus in its business operations?

Alexandria focuses on the development and operation of life science, technology, and agtech campuses.