Alexandria Real Estate (ARE) prices $1 billion senior notes offering.

Alexandria Real Estate Equities, Inc. (ARE) announced today that it has priced an offering of $1.0 billion 1.875% senior unsecured notes due 2033.  The notes were priced at a discount to yield 1.892%, or +130 basis points to the treasury curve.  Proceeds will be used to redeem the company's outstanding $500 million 3.90% senior notes due 2023, with the balance used to fund ongoing development costs.

Founded in 1974, Alexandria Real Estate Equities, Inc. (ARE) is an office REIT specializing in the management and development of Class-A life science and technology properties in urban locations.  ARE has a total market capitalization of approximately $28 billion and is a member of the S&P 500.