From Earlier: Alexandria Real Estate Equities Announces Pricing of Public Offering of $550M of 4.60% Senior Notes Due 2022

Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced yesterday that it has priced a public offering of $550,000,000 aggregate principal amount of 4.60% senior notes due 2022. Goldman, Sachs & Co., J.P. Morgan Securities LLC, Citigroup, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mitsubishi UFJ Securities, RBC Capital Markets, RBS and Scotia Capital Inc. are acting as joint bookrunning managers, and Barclays Capital Inc., Credit Suisse Securities LLC, Morgan Keegan & Company, BB&T Capital Markets, a division of Scott & Stringfellow, LLC, BNY Mellon Capital Markets, LLC, JMP Securities LLC, Keefe, Bruyette & Woods, Inc., PNC Capital Markets LLC, SMBC Nikko Capital Markets Limited and SunTrust Robinson Humphrey, Inc. are acting as co-managers in connection with the public offering.

The notes were priced at 99.915% of the principal amount with a yield to maturity of 4.610%. The notes will be unsecured obligations of the Company and fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P., a wholly owned subsidiary of the Company. The closing of the sale of the notes is expected to occur on February 29, 2012, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering to prepay the outstanding principal balance of $250 million of its unsecured term loan under its unsecured credit facility and to reduce the outstanding balance of its borrowings on its unsecured line of credit. The Company may also borrow from time to time under its unsecured line of credit to fund potential future acquisitions, to repay debt, or for general working capital and other corporate purposes, including the selective development or redevelopment of existing or new life science properties.