Alexandria Real Estate Equities (ticker ARE) sold $1 billion of new debt on August 21, 2026 — 7.250% Series A Fixed-to-Fixed Reset Rate Junior Subordinated Notes due February 2057, fully and unconditionally guaranteed by Alexandria Real Estate Equities, L.P. The notes pay a fixed 7.250% coupon through early 2032, then reset periodically based on the five-year U.S. Treasury rate plus a 2.889% spread, with a floor preventing the rate from ever dipping below 7.250%; interest is paid semiannually starting February 15, 2027. Because these are 'junior' hybrid notes, they rank behind all of the company's existing and future senior debt in the repayment order, and the company holds the option to defer interest payments.
View Full Filing (SEC EDGAR)