NYSE:AREHealth Care REITs
Is Alexandria Real Estate Equities’ (ARE) Debt Swap Quietly Reframing Its Long‑Term Risk Profile?
Alexandria Real Estate Equities recently completed a US$750,000,000 public offering of 5.25% senior unsecured notes due 2036 and upsized a cash tender offer to buy back multiple longer-dated bonds, funded in part by repaying commercial paper borrowings.
This refinancing reshapes the company’s debt profile by swapping near-term commercial paper and older notes for a single, fully guaranteed bond, clarifying its funding mix and maturity schedule.
We’ll now explore how replacing short-term...