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Alexandria Real Estate announces tender results for 2.75%, 4.6% notes
Chicago, July 17 – Alexandria Real Estate Equities Inc. announced the results of its tender offer for any and all of its outstanding $400 million 2.75% notes due 2020 and its $550 million of its 4.6% notes due 2022, according to a company news release on Wednesday.
As of the 5 p.m. ET expiration on July 16, the company received valid tenders that were not withdrawn for $318,566,000, or 79.64%, of the $400 million principal amount of 2020 notes.
Regarding the 2022 notes, the company received unwithdrawn valid tenders for $384.74 million, or 69.95%, of the $550 million principal amount of notes.
Payment of the notes is intended to be made around July 17, and payment for the notes tendered pursuant to a notice of guaranteed delivery is intended for July 19.
The tender offer consideration will be $1,002.19 for each $1,000 principal amount of 2020 notes and $1,061.21 for each $1,000 principal amount of 2022 notes, plus interest to, but not including, the settlement date or the guaranteed delivery settlement date.
The offer will be funded from a portion of the net proceeds from the previously announced issuance of 3.375% notes due 2031 and 4% senior notes due 2050.
As previously reported, the offer was extended to 5 p.m. ET on July 16. It was previously set to end at 5 p.m. ET on July 12.
The company amended the offer in order to clarify the applicable tender offer consideration for the notes.
Global Bondholder Services Corp. (866 924-2200 or http://www.gbsc-usa.com/ARE) has been retained as the tender agent and information agent for the offer, and Goldman Sachs & Co. LLC (800 828-3182 or 212 902-6941) has been retained as the dealer manager.
The Pasadena, Calif.-based REIT focuses on properties with life science laboratory space.
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