Alexandria Real Estate Equities, Inc. Announces Pricing of Public Offering of $1,000,000,000 of Series A Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057
Alexandria Real Estate Equities priced a $1 billion public offering of 7.250% Series A Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057 at 100.000% of principal amount. The notes will bear interest at 7.250% annually through February 2032, resetting every five years thereafter based on the five-year U.S. Treasury Rate plus 2.889%, subject to a 7.250% floor.
Key figures
- Deal Value Usd
- 1000000000
- Rate floor
- 7.250%
- Interest rate
- 7.250%
- Maturity year
- 2057
- Reset rate spread
- 2.889%
- Initial fixed term
- February 15, 2032
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