Summary
Prologis, L.P. (the Operating Partnership), a subsidiary of Prologis, Inc., has successfully priced and closed an offering of $1.25 billion in aggregate principal amount of senior unsecured notes. This issuance comprises $500 million of 4.750% notes due 2031 and $750 million of 5.250% notes due 2035. The net proceeds, estimated at approximately $1.2 billion after expenses, are earmarked for general corporate purposes, notably for repaying outstanding borrowings under its commercial paper program and potentially other debt. This strategic debt financing allows Prologis to manage its capital structure and maintain financial flexibility.
Key Highlights
- 1Prologis, L.P. issued $1.25 billion in senior unsecured notes.
- 2The offering includes $500 million of 4.750% notes due 2031 and $750 million of 5.250% notes due 2035.
- 3Net proceeds are approximately $1.2 billion, intended for general corporate purposes.
- 4Proceeds will be used to repay commercial paper program borrowings and potentially other debt.
- 5The notes are senior unsecured obligations of the Operating Partnership.
- 6The offering was conducted under an underwriting agreement with BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC.