Summary
This 8-K filing from AMB Property Corporation (now Prologis, Inc.) on November 1, 2000, details the pricing of $75 million in senior unsecured notes by its subsidiary, AMB Property, L.P. These notes, issued under a medium-term note program initiated in August 2000, mature on November 1, 2010, and carry an interest rate of 8.00% per annum. The issuance was conducted in two tranches: $50 million priced on October 23, 2000, and an additional $25 million priced on October 25, 2000, with settlement on October 26, 2000. AMB Property Corporation has guaranteed the full $75 million principal amount. The net proceeds, after commissions, are intended for general corporate purposes. These purposes may include repaying existing indebtedness, particularly amounts outstanding under its unsecured credit facility, and funding the acquisition or development of new properties. Investors should note the forward-looking nature of statements regarding the use of proceeds, as these are subject to risks and uncertainties.
Key Highlights
- 1AMB Property, L.P. priced an additional $25 million in senior unsecured notes on October 25, 2000, bringing the total issuance to $75 million.
- 2These notes are part of a medium-term note program that commenced on August 15, 2000.
- 3The notes mature on November 1, 2010, and bear a fixed interest rate of 8.00% per annum.
- 4AMB Property Corporation has provided a full guarantee for the $75 million aggregate principal amount of the senior unsecured notes.
- 5Net proceeds after commissions are approximately $74,531,250.
- 6Intended use of proceeds includes general corporate purposes, potential repayment of indebtedness, and funding property acquisitions or development.