Prologis (PLD) has released an update.
On January 18, 2024, the Operating Partnership announced a pricing of $800 million in 5.000% Notes due 2034 and $450 million in 5.250% Notes due 2054, entering into an Underwriting Agreement with several underwriters. The anticipated net proceeds from the sale are around $1.23 billion, which will be used for general corporate purposes, including repaying global credit line borrowings. These senior unsecured obligations will be redeemable at the Operating Partnership’s option, with interest rates of 5.000% and 5.250% per annum for the 2034 and 2054 Notes, respectively. The Notes issuance is governed by an Indenture, and the offering is made under a previously filed registration with the SEC.
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