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Published on 5/30/2013 in the Prospect News Investment Grade Daily.

Midday Commentary: Alexandria Real Estate notes widen as market volatility continues

By Aleesia Forni

Virginia Beach, Va., May 30 - The recent note issue from Alexandria Real Estate Equities, Inc. traded "a couple [of basis points] wider" on Thursday as the high-grade market saw continued volatility early during the session, one trader said.

The source quoted Alexandria Real Estate's notes 2 bps wider compared to the levels seen late Wednesday at 182 bps bid, 179 bps offered.

Alexandria Real Estate tapped the market on Wednesday for an upsized $500 million of 3.9% 10-year senior notes.

The notes priced at 180 bps over Treasuries.

The real estate investment trust for life science labs is based in Pasadena, Calif.

The Markit CDX Series 20 North American Investment Grade index was 1 bp tighter at a spread of 76 bps.


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