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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/01/24 Alexandria RE Equities, Inc. FWP 1:36K Alexandria RE Equities, L.P. Toppan Merrill/FA |
Document/Exhibit Description Pages Size 1: FWP Prospectus - Free Writing HTML 34K
Filed Pursuant to Rule 433
Issuer Free Writing Prospectus
Registration File No.: 333-276803
Alexandria Real Estate Equities, Inc.
Fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P.
This pricing term sheet supplements Alexandria Real Estate Equities, Inc.'s preliminary prospectus supplement, dated February 1, 2024 (the "Preliminary Prospectus Supplement"), including the documents incorporated by reference therein, relating to this offering, and supersedes the information in the Preliminary Prospectus Supplement to the extent inconsistent with the information in the Preliminary Prospectus Supplement. In all other respects, this pricing term sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement.
Final Terms and Conditions Applicable to
$400,000,000 5.250% Senior Notes due 2036
| Issuer: | Alexandria Real Estate Equities, Inc. |
| Security Description: | 5.250% Senior Notes due 2036 |
| Guarantee/Guarantor: | Fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P. |
| Expected Ratings:* | Moody’s: Baa1 / S&P: BBB+ |
| Size: | $400,000,000 |
| Maturity Date: | May 15, 2036 |
| Price to Public: | 99.787% |
| Interest Rate: | 5.250% per annum |
| Yield to Maturity: | 5.271% |
| Spread to Benchmark Treasury: | T+140 basis points |
| Benchmark Treasury: | 4.500% due November 15, 2033 |
| Benchmark Treasury Price and Yield: | 105-02+ / 3.871% |
| Interest Payment Dates: | Each May 15 and November 15, beginning on November 15, 2024 |
| Optional Redemption: | The redemption price for notes that are redeemed before February 15, 2036 (three months prior to the stated maturity date of the notes) will be equal to the sum of (i) 100% of the principal amount of the notes being redeemed, (ii) accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption, and (iii) a make-whole amount of T+25 bps. |
| The redemption price for notes that are redeemed on or after February 15, 2036 will be equal to the sum of 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest thereon. | |
| Joint Book-Running Managers: |
Goldman Sachs & Co. LLC BofA Securities, Inc. Citigroup Global Markets Inc. J.P. Morgan Securities LLC RBC Capital Markets, LLC Barclays Capital Inc. Mizuho Securities USA LLC Scotia Capital (USA) Inc. SMBC Nikko Securities America, Inc. TD Securities (USA) LLC U.S. Bancorp Investments, Inc. |
| Co-Managers: |
BBVA Securities Inc. BMO Capital Markets Corp. BNP Paribas Securities Corp. Capital One Securities, Inc. Evercore Group L.L.C. Fifth Third Securities, Inc. Huntington Securities, Inc. PNC Capital Markets LLC Regions Securities LLC Samuel A. Ramirez & Company, Inc. Truist Securities, Inc. |
| CUSIP / ISIN: | 015271BC2 / US015271BC21 |
| Denominations: | $2,000 and integral multiples of $1,000 in excess thereof |
| Trade Date: | February 1, 2024 |
| Settlement Date: | February 15, 2024 (T+10)** |
| * | Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. |
| ** | The Issuer expects that delivery of the notes will be made to investors on or about February 15, 2024, which will be the tenth business day following the date of the prospectus supplement (such settlement being referred to as "T+10"). Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the date of pricing of the notes or the next seven succeeding business days will be required, by virtue of the fact that the notes initially will settle in T+10, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement and should consult their own advisors. |
The Issuer and the Guarantor have filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents that the Issuer and the Guarantor have filed with the SEC for more complete information about the Issuer, the Guarantor and this offering.
You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, the Guarantor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the accompanying prospectus supplement if you request it by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, fax: 212-902-9316 or e-mail: prospectus-ny@ny.email.gs.com; BofA Securities, Inc., telephone: 1-800-294-1322; Citigroup Global Markets Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146 or e-mail: prospectus@citi.com; J.P. Morgan Securities LLC, telephone (collect): 212-834-4533; or RBC Capital Markets, LLC, toll free at 1-866-375-6829.
Final Terms and Conditions Applicable to
$600,000,000 5.625% Senior Notes due 2054
| Issuer: | Alexandria Real Estate Equities, Inc. |
| Security Description: | 5.625% Senior Notes due 2054 |
| Guarantee/Guarantor: | Fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P. |
| Expected Ratings:* | Moody’s: Baa1 / S&P: BBB+ |
| Size: | $600,000,000 |
| Maturity Date: | May 15, 2054 |
| Price to Public: | 99.943% |
| Interest Rate: | 5.625% per annum |
| Yield to Maturity: | 5.627% |
| Spread to Benchmark Treasury: | T+150 basis points |
| Benchmark Treasury: | 4.125% due August 15, 2053 |
| Benchmark Treasury Price and Yield: | 99-31 / 4.127% |
| Interest Payment Dates: | Each May 15 and November 15, beginning on November 15, 2024 |
| Optional Redemption: | The redemption price for notes that are redeemed before November 15, 2053 (six months prior to the stated maturity date of the notes) will be equal to the sum of (i) 100% of the principal amount of the notes being redeemed, (ii) accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption, and (iii) a make-whole amount of T+25 bps. |
| The redemption price for notes that are redeemed on or after November 15, 2053 will be equal to the sum of 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest thereon. | |
| Joint Book-Running Managers: |
Goldman Sachs & Co. LLC BofA Securities, Inc. Citigroup Global Markets Inc. J.P. Morgan Securities LLC RBC
Capital Markets, LLC Mizuho Securities USA LLC Scotia Capital (USA) Inc. SMBC Nikko Securities America, Inc. TD Securities (USA) LLC U.S. Bancorp Investments, Inc. |
| Co-Managers: |
BBVA Securities Inc. BMO Capital Markets Corp. BNP Paribas Securities Corp. Capital One Securities, Inc. Evercore Group L.L.C. Fifth Third Securities, Inc. Huntington Securities, Inc. PNC Capital Markets LLC Regions Securities LLC Samuel A. Ramirez & Company, Inc. Truist Securities, Inc. |
| CUSIP / ISIN: | 015271BD0 / US015271BD04 |
| Denominations: | $2,000 and integral multiples of $1,000 in excess thereof |
| Trade Date: | February 1, 2024 |
| Settlement Date: | February 15, 2024 (T+10)** |
| * | Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. |
| ** | The Issuer expects that delivery of the notes will be made to investors on or about February 15, 2024, which will be the tenth business day following the date of the prospectus supplement (such settlement being referred to as "T+10"). Under Rule 15c6-1 of the Exchange Act, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes on the date of pricing of the notes or the next seven succeeding business days will be required, by virtue of the fact that the notes initially will settle in T+10, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement and should consult their own advisors. |
The Issuer and the Guarantor have filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents that the Issuer and the Guarantor have filed with the SEC for more complete information about the Issuer, the Guarantor and this offering.
You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, the Guarantor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the accompanying prospectus supplement if you request it by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, fax: 212-902-9316 or e-mail: prospectus-ny@ny.email.gs.com; BofA Securities, Inc., telephone: 1-800-294-1322; Citigroup Global Markets Inc. at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146 or e-mail: prospectus@citi.com; J.P. Morgan Securities LLC, telephone (collect): 212-834-4533; or RBC Capital Markets, LLC, toll free at 1-866-375-6829.
| This ‘FWP’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 2/15/36 | ||||
| 11/15/33 | ||||
| 11/15/24 | ||||
| 2/15/24 | ||||
| Filed on: | 2/1/24 | 424B5, S-3ASR | ||
| List all Filings | ||||