Alexandria Balances Investor Lawsuit With Large Debt Refinancing Shift
Alexandria Real Estate Equities (NYSE:ARE) is navigating an investor lawsuit concerning alleged misrepresentation of leasing metrics for a Long Island City property, while simultaneously executing a significant debt refinancing. The company is upsizing a tender offer for existing notes and issuing new $750 million senior unsecured notes due 2036, swapping shorter-term commercial paper for longer-term debt, which impacts its interest costs and maturity profile. These developments coincide with a substantial decline in the company's share price over the past year.
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