Alexandria Real Estate Equities prices USD 1 billion junior subordinated notes offering

Alexandria Real Estate Equities priced a USD 1 billion offering of 7.250% Series A Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057.

• Interest is fixed at 7.25% until Feb. 15, 2032, then resets to the five-year U.S. Treasury rate plus 2.889%.
• The reset rate has a 7.25% floor.
• Semiannual interest payments start Feb. 15, 2027.
• The notes are callable at par around the first reset date; special redemptions include 102% following a rating agency event.