Alexandria Upsizes Tender to Repurchase $1.33B of 3%-4% Senior Notes
Alexandria Real Estate Equities will repurchase all $1.3314B of notes validly tendered by Feb. 9, including $497.6M of 3.000% 2051 notes, $524.6M of 3.550% 2052 notes and $309.2M of 4.000% 2050 notes. It increased its aggregate maximum tender amount to accept these tenders and expects no further acceptances.
1. Tender Offer Upsizing
Alexandria Real Estate Equities launched cash tender offers to repurchase portions of its 3.000% Senior Notes due 2051, 3.550% Senior Notes due 2052 and 4.000% Senior Notes due 2050, and increased its aggregate maximum tender amount to accept all valid tenders submitted by the Feb. 9 early deadline.
2. Early Tender Submissions
By the Feb. 9 early tender date, registered holders tendered $497.6 million of the 2051 notes, $524.6 million of the 2052 notes and $309.2 million of the 2050 notes, filling the upsized capacity across the three series under their respective acceptance priority levels.
3. Repurchase and Debt Management
With $1.3314 billion in senior notes validly tendered, Alexandria expects to repurchase the full amount at the total consideration determination on Feb. 10 and will not accept tenders after the early deadline, reducing its outstanding debt and associated interest obligations.