Alexandria Real Estate Equities Prices $750M 5.25% Senior Notes at 99.68%
Alexandria Real Estate Equities has priced a $750 million offering of 5.25% senior notes due 2036 at 99.679% of par, yielding 5.291%, with closing expected on February 25, 2026. Net proceeds will repay $952.2 million of commercial paper and redeemed notes, with excess cash parked in short-term securities.
1. Offering Details
Alexandria Real Estate Equities issued $750 million of 5.25% senior notes due 2036, priced at 99.679% of par with a yield to maturity of 5.291%. The notes are unsecured obligations of the company, fully and unconditionally guaranteed by its 100% owned subsidiary.
2. Use of Proceeds
The company intends to use net proceeds to repay approximately $952.2 million of borrowings under its commercial paper program and tender offer notes. Pending repayment, excess funds will be invested in high-quality short-term securities or used for general working capital.
3. Closing and Guarantees
The closing of the senior notes sale is expected on or about February 25, 2026, subject to customary conditions. The notes are being offered under a previously filed registration statement and are guaranteed by Alexandria Real Estate Equities, L.P., the company’s indirect wholly owned subsidiary.