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Alexandria Real Estate may repay bank debt with new note proceeds
By Sarah Lizee
Olympia, Wash., July 8 – Alexandria Real Estate Equities, Inc. said it may partially repay its unsecured senior bank term loan and reduce the outstanding balance under its unsecured senior line of credit using some proceeds from a proposed sale of fixed-rate senior notes in two tranches.
Proceeds will also be used for a cash tender offer for any and all of the company's $400 million of 2.75% unsecured senior notes due 2020 and any and all of its $550 million of 4.6% unsecured senior notes due 2022.
Pasadena, Calif.-based Alexandria Real Estate Equities is a real estate investment trust focused on life science and technology campuses.
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