Summary
Prologis, Inc. (PLD), through its sole general partner subsidiary AMB Property, L.P., has successfully priced $25 million in aggregate principal amount of senior unsecured notes due September 6, 2011. These notes carry a fixed interest rate of 6.75% per annum and were sold to Lehman Brothers Inc. Prologis, Inc. has provided a guarantee for this issuance. The net proceeds, amounting to $24,843,750 after commission, are designated for general corporate purposes. This may include the partial repayment of existing debt and the funding of new property acquisitions or development projects. Investors should note that while these statements outline intended uses, they are subject to the inherent risks and uncertainties of forward-looking statements, and actual outcomes may differ.
Key Highlights
- 1AMB Property, L.P. priced $25 million in senior unsecured notes maturing on September 6, 2011.
- 2The notes bear a fixed interest rate of 6.75% per annum.
- 3Prologis, Inc. has guaranteed the full principal amount of these notes.
- 4Net proceeds after commission are $24,843,750.
- 5Proceeds are intended for general corporate purposes, including potential debt repayment and property acquisition/development.
- 6Lehman Brothers Inc. acted as the principal in the transaction.
- 7The issuance is part of AMB Property, L.P.'s medium-term note program.