Alexandria Real Estate Equities Launches Senior Notes Offering

(RTTNews) - Alexandria Real Estate Equities, Inc. (ARE) said Wednesday that it is commencing an underwritten public offering of senior notes.

The company said it plans to use the net proceeds from the offering for the partial prepayment of $100 million on its 2016 unsecured senior bank term loan and reduction of the outstanding balance on its unsecured senior line of credit. The company may then also borrow from time to time under its unsecured line of credit to provide funds for general working capital and other corporate purposes, including the repayment of debt and selective development or redevelopment of science and technology urban campus assets.