Alexandria Real Estate Equities Inc. priced its public offering of $450.0 million of 4.013% senior notes due 2024 and $450.0 million of 4.709% senior notes due 2030.
Net proceeds from the 2024 notes will be used for certain green projects, which are development, redevelopment or tenant improvement projects that have or will have gold or platinum Leadership in Energy and Environmental Design certification.
Net proceeds from the 2030 notes will go toward general corporate purposes, including debt reduction under the urban office real estate investment trust's unsecured senior line of credit.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Merrill Lynch Pierce Fenner & Smith Inc. are the joint book-running managers, while Barclays Capital Inc., BB&T Capital Markets LLC, BBVA Securities Inc., BNP Paribas Securities Corp., BTIG LLC, Capital One Securities Inc., Evercore Group LLC, Mizuho Securities USA LLC, PNC Capital Markets LLC, RBC Capital Markets LLC, Regions Securities LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc. and TD Securities (USA) LLC are acting as co-managers for the offering.
