Form FWP Alexandria Real Estate Filed by: ALEXANDRIA REAL ESTATE EQUITIES, INC.

 

Filed Pursuant to Rule 433
Issuer Free Writing Prospectus
Registration File Nos: 333-251902 and 333-251902-01

 

Alexandria Real Estate Equities, Inc.

 

Fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P.

 

This pricing term sheet supplements Alexandria Real Estate Equities, Inc.'s preliminary prospectus supplement, dated February 2, 2023 (the "Preliminary Prospectus Supplement"), including the documents incorporated by reference therein, relating to this offering, and supersedes the information in the Preliminary Prospectus Supplement to the extent inconsistent with the information in the Preliminary Prospectus Supplement. In all other respects, this pricing term sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement.

 

 

Final Terms and Conditions Applicable to

$500,000,000 4.750% Senior Notes due 2035

 

Issuer:		Alexandria Real Estate Equities, Inc.
Security Description:		4.750% Senior Notes due 2035
Guarantee/Guarantor:		Fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P.
Expected Ratings:*		Moody’s: Baa1 / S&P: BBB+
Size:		$500,000,000
Maturity Date:		April 15, 2035
Price to Public:		99.741%
Interest Rate:		4.750% per annum
Yield to Maturity:		4.777%
Spread to Benchmark Treasury:		T+137.5 basis points
Benchmark Treasury:		4.125% due November 15, 2032
Benchmark Treasury Price and Yield:		105-31 / 3.402%
Interest Payment Dates:		Each April 15 and October 15, beginning on October 15, 2023
Optional Redemption:		The redemption price for notes that are redeemed before January 15, 2035 (three months prior to the stated maturity date of the notes) will be equal to the sum of (i) 100% of the principal amount of the notes being redeemed, (ii) accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption, and (iii) a make-whole amount of T+25 bps.
		The redemption price for notes that are redeemed on or after January 15, 2035 will be equal to the sum of 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest thereon.
Joint Book-Running Managers:		Goldman Sachs & Co. LLC BofA Securities, Inc. Citigroup Global Markets Inc. RBC Capital Markets, LLC
		BBVA Securities Inc. Capital One Securities, Inc. Evercore Group L.L.C. Mizuho Securities USA LLC Regions Securities LLC Scotia Capital (USA) Inc. SMBC Nikko Securities America, Inc. Truist Securities, Inc.

 

 

Co-Managers:		Barclays Capital Inc. BMO Capital Markets Corp. Fifth Third Securities, Inc. Huntington Securities, Inc. PNC Capital Markets LLC TD Securities (USA) LLC Samuel A. Ramirez & Company, Inc.
CUSIP / ISIN:		015271 BA6 / US015271BA64
Denominations:		$2,000 and integral multiples of $1,000 in excess thereof
Trade Date:		February 2, 2023
Settlement Date:		February 16, 2023 (T+10)**

 

*

Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

 

**

The Issuer expects that delivery of the notes will be made to investors on or about February 16, 2023, which will be the tenth business day following the date of the prospectus supplement (such settlement being referred to as "T+10"). Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the date of pricing of the notes or the next seven succeeding business days will be required, by virtue of the fact that the notes initially will settle in T+10, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement and should consult their own advisors.

 

The Issuer and the Guarantor have filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents that the Issuer and the Guarantor have filed with the SEC for more complete information about the Issuer, the Guarantor and this offering.

 

You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, the Guarantor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the accompanying prospectus supplement if you request it by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, fax: 212-902-9316 or e-mail: [email protected]; BofA Securities, Inc., telephone: 1-800-294-1322; Citigroup Global Markets Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146 or e-mail: [email protected]; or RBC Capital Markets, LLC, toll free at 1-866-375-6829.

 

 

Final Terms and Conditions Applicable to

$500,000,000 5.150% Senior Notes due 2053

 

Issuer:		Alexandria Real Estate Equities, Inc.
Security Description:		5.150% Senior Notes due 2053
Guarantee/Guarantor:		Fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P.
Expected Ratings:*		Moody’s: Baa1 / S&P: BBB+
Size:		$500,000,000
Maturity Date:		April 15, 2053
Price to Public:		99.500%
Interest Rate:		5.150% per annum
Yield to Maturity:		5.182%
Spread to Benchmark Treasury:		T+160 basis points
Benchmark Treasury:		3.000% due August 15, 2052
Benchmark Treasury Price and Yield:		89-14 / 3.582%
Interest Payment Dates:		Each April 15 and October 15, beginning on October 15, 2023
Optional Redemption:		The redemption price for notes that are redeemed before October 15, 2052 (six months prior to the stated maturity date of the notes) will be equal to the sum of (i) 100% of the principal amount of the notes being redeemed, (ii) accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption, and (iii) a make-whole amount of T+25 bps.
		The redemption price for notes that are redeemed on or after October 15, 2052 will be equal to the sum of 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest thereon.
Joint Book-Running Managers:		Goldman Sachs & Co. LLC BofA Securities, Inc. Citigroup Global Markets Inc. RBC Capital Markets, LLC
		BBVA Securities Inc. Capital One Securities, Inc. Evercore Group L.L.C. Mizuho Securities USA LLC Regions Securities LLC Scotia Capital (USA) Inc. SMBC Nikko Securities America, Inc. Truist Securities, Inc.
Co-Managers:		Barclays Capital Inc. BMO Capital Markets Corp. Fifth Third Securities, Inc. Huntington Securities, Inc. PNC Capital Markets LLC TD Securities (USA) LLC Samuel A. Ramirez & Company, Inc.

 

 

CUSIP / ISIN:		015271 BB4 / US015271BB48
Denominations:		$2,000 and integral multiples of $1,000 in excess thereof
Trade Date:		February 2, 2023
Settlement Date:		February 16, 2023 (T+10)**

 

*

Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

 

**

The Issuer expects that delivery of the notes will be made to investors on or about February 16, 2023, which will be the tenth business day following the date of the prospectus supplement (such settlement being referred to as "T+10"). Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the date of pricing of the notes or the next seven succeeding business days will be required, by virtue of the fact that the notes initially will settle in T+10, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement and should consult their own advisors.

 

The Issuer and the Guarantor have filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents that the Issuer and the Guarantor have filed with the SEC for more complete information about the Issuer, the Guarantor and this offering.

 

You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, the Guarantor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the accompanying prospectus supplement if you request it by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, fax: 212-902-9316 or e-mail: [email protected]; BofA Securities, Inc., telephone: 1-800-294-1322; Citigroup Global Markets Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146 or e-mail: [email protected]; or RBC Capital Markets, LLC, toll free at 1-866-375-6829.

 

 

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