AlexandriaReal Estate Equities Inc. and its unit, Alexandria Real EstateEquities LP, signed an escrow agreement involving a $1.65 billion unsecuredsenior revolving credit facility, among other things.

The deal for the fifth amended and restated credit agreementwas signed with Bank of America NA as administrative agent and Kaye Scholer LPas escrow agent. Joint lead arrangers and joint book runners include MerrillLynch, Pierce, Fenner & Smith Inc., JPMorgan Chase Bank NA and CitigroupGlobal Markets Inc.

The amended credit agreement also includes an option toincrease the aggregate commitments by up to $350 million. Further, the amendedfacility's maturity date will be extended to Oct. 29, 2021, subject to certainconditions.

The company and its unit also signed escrow agreements withBank of America NA and concerned lenders to amend its 2019 unsecured seniorbank term loan and the 2021 unsecured senior bank term loan. The company saidthe amendments are intended to reduce the capitalization rate with respect tothe asset value of certain property types and remove negative covenants withrespect to investments and the creation of incurrence of liens, among otherchanges. The maturity dates of the facilities will not be changed.

The amended credit agreements will become effective upon thesatisfaction of certain conditions by the company, on or before Aug. 2,including payment of prescribed fees, absence of any default under the amendedcredit agreement and the delivery of certain legal opinions and certificates.If the required conditions are not met by the aforementioned date, the escrowagreements will be terminated and the amendments will not become effective.