Alexandria Real Estate Equities will offer senior notes in two parts

By Devika Patel

Knoxville, Tenn., July 8 – Alexandria Real Estate Equities, Inc. is expected to price fixed-rate senior notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes are guaranteed by Alexandria Real Estate Equities, LP.

The notes feature a make-whole call and then a par call.

Goldman Sachs & Co., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp. are the bookrunners.

Proceeds will 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 and for general corporate purposes, which may include the partial repayment of the company’s unsecured senior bank term loan and the reduction of the outstanding balance on its unsecured senior line of credit.

Pasadena, Calif.-based Alexandria Real Estate Equities is a real estate investment trust focused on life science and technology campuses.

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