Alexandria Real Estate Equities Issues $750M 5.25% Notes Due 2036 to Refinance Debt

Alexandria secures long-term financing to cover recent repurchase activity

Priced $750 million 5.25% notes due 2036

Alexandria Real Estate Equities says it is pricing a public offering of $750 million aggregate principal amount of 5.25% senior notes due 2036, a move designed to shore up liquidity and refinance short‑term borrowings tied to recent debt repurchases. The unsecured notes are priced at 99.679% of principal, carrying a yield to maturity of 5.291%, and are fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P. The company expects the offering to close on or about Feb. 25, 2026, subject to customary conditions.

The REIT states it intends to use net proceeds to repay a portion of borrowings under its commercial paper program that were incurred in connection with repurchases or redemptions aggregating $952,202,784.40 of certain series of senior unsecured notes pursuant to its previously announced cash tender offer, by redemption or otherwise. Pending the use of proceeds, Alexandria says it may invest funds in high‑quality short‑term securities or apply them for general working capital and corporate purposes. The company also underscores that the consummation of the notes offering is not conditioned on any specific amount tendered in the related tender offers.

A syndicate of global and regional banks is managing the transaction, with Citigroup, BofA Securities and J.P. Morgan among the joint book‑running managers and a wide group of co‑managers listed. The offering is made pursuant to an effective Form S‑3 registration statement filed with the U.S. Securities and Exchange Commission, and Alexandria emphasizes the release is not an offer to sell or solicitation to buy securities in jurisdictions where such offers are prohibited.

Shareholder group flags Long Island City litigation

Separately, the Shareholders Foundation announces a pending securities‑law lawsuit on behalf of certain Alexandria investors, alleging the REIT misrepresented the leasing pipeline, occupancy prospects and leasing spreads related to its Long Island City life‑science assets. The Foundation urges anyone who bought Alexandria shares before Jan. 27, 2025 and still holds them to contact its office and to preserve trade confirmations and communications.

Tender offer pricing details disclosed

Alexandria also communicates pricing terms for its previously announced cash tender offers for certain long‑dated senior notes, specifying an Aggregate Maximum Tender Amount not to exceed $952.2 million and an Early Tender Premium of $50 per $1,000 for valid early tenders. For the 3.000% senior notes due 2051, total consideration is set at $656.22 per $1,000 with an expected accepted principal amount of about $497.6 million.