Prologis (NYSE:PLD) Issues $750 Million Aggregate Principal Amount of 4.200% Notes due 2033

Prologis, L.P., the Operating Partnership of Prologis, Inc., has successfully priced an offering of C$750,000,000 aggregate principal amount of its 4.200% Notes due 2033 on January 28, 2025. This announcement comes as part of the company’s strategic financial planning. In association with this offering, the Operating Partnership has entered into an Underwriting Agreement with Scotia Capital Inc. and TD Securities Inc., as the underwriters, for the sale and purchase of these Notes.

The Notes, senior unsecured obligations of the Operating Partnership, will bear interest at a rate of 4.200% per annum and are scheduled to mature on February 15, 2033. The net proceeds from the sale of these Notes, after accounting for the Underwriters’ discount and offering expenses, are anticipated to be approximately C$742.6 million. The Operating Partnership intends to utilize these funds for various corporate purposes, including potentially repaying borrowings under its global lines of credit and other debts.

The Indenture governing the Notes, issued under an indenture dated June 8, 2011, supplemented by subsequent indentures, imposes restrictions on the Operating Partnership’s and its subsidiaries’ ability to incur additional indebtedness, merge or consolidate with other entities, or dispose of significant assets.

The issuance of these Notes falls under the Registration Statement (File No. 333-267431) that the company filed with the SEC. This action is part of Prologis’ broader strategy of funding and capital management to support its operational and strategic initiatives. The Underwriting Agreement, Form of Notes, and other relevant documentation have been filed along with this announcement as exhibits to the Registration Statement.

This communication is not an offer to sell or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation, or sale in any jurisdiction where such actions are unlawful. Prologis continues to demonstrate proactive financial planning and strategic decision-making to support its growth and financial stability.

For further details regarding the financial statements and exhibits related to this transaction, please refer to the company’s official filing.

It is important to note that the content of this report is accurate as of the date listed, and any material changes will be duly disclosed as required by regulations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Prologis’s 8K filing here.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.