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Alexandria Real Estate Equities closes $600M senior notes offering

Alexandria Real Estate Equities Inc. completed a public offering of $400.0 million of its 2.750% senior notes due Dec. 15, 2029, and $200.0 million of its 4.000% senior notes due Feb. 1, 2050.

Interest on the 2029 notes is payable semiannually in arrears every June 15 and Dec. 15, starting June 15, 2020, while interest on the 2050 notes is payable semiannually in arrears every Feb. 1 and Aug. 1, commencing Feb. 1, 2020.

The urban office real estate investment trust earlier said it will use the net proceeds to repay the outstanding balance on its unsecured senior bank term loan, among other uses.

Branch Banking and Trust Co. was the trustee.