Alexandria prices $750 million senior notes offering due 2036

Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced it has priced a public offering of $750 million aggregate principal amount of 5.25% senior notes due 2036. The notes were priced at 99.679% of the principal amount with a yield to maturity of 5.291%.

The notes will be unsecured obligations of the company and fully guaranteed by Alexandria Real Estate Equities, L.P., an indirectly 100% owned subsidiary. The closing of the sale is expected to occur on or about February 25, 2026, subject to customary closing conditions.

Citigroup Global Markets Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc., and TD Securities (USA) LLC are acting as joint book-running managers. Additional firms including Barclays Capital Inc., Capital One Securities, Inc., and others are serving as co-managers.

Alexandria expects to use the net proceeds to repay a portion of borrowings under its commercial paper program incurred in connection with the repurchase or redemption of certain outstanding senior unsecured notes totaling $952,202,784.40 pursuant to its previously announced cash tender offer. The company may temporarily invest remaining proceeds in short-term securities or use them for general working capital purposes.

The offering is not conditioned on completion of the tender offer or any specific amount of notes being tendered. The notes are being offered under an effective registration statement on Form S-3 previously filed with the Securities and Exchange Commission.

Alexandria is an S&P 500 life science real estate investment trust that operates in locations including Greater Boston, San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle, and New York City.

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