SAN FRANCISCO, May 6, 2015 /PRNewswire/ -- Prologis, Inc. (NYSE:
PLD), the global leader in industrial real estate, announced today
that its operating subsidiary Prologis, L.P. (the "Operating
Partnership") has priced an offering of €700 million aggregate
principal amount of notes due May 13,
2021, that have an annual coupon rate of 1.375% and were
priced at 99.112% of the principal amount (the "notes"). The
notes will be senior unsecured obligations of the Operating
Partnership and will be fully and unconditionally guaranteed by
Prologis, Inc. The sale of the notes is expected to close on
or about May 13, 2015, subject to
customary closing conditions. The offering has been made
pursuant to an effective shelf registration statement filed with
the Securities and Exchange Commission.
The Operating Partnership may use a portion of the net proceeds
to fund development and acquisitions, including a portion of
Prologis, Inc.'s share of the purchase price for the previously
announced acquisition transaction with KTR Capital Partners and its
affiliates. A portion of the net proceeds may also be used
for other general corporate purposes, including investment in
co-investment ventures and debt repayment. In the short term,
the Operating Partnership expects to use a portion of the net
proceeds to repay outstanding borrowings under its global line
and/or multi-currency senior term loan. Affiliates of J.P.
Morgan Securities plc, Merrill Lynch International and Morgan
Stanley & Co. International plc and affiliates of certain of
the other underwriters are lenders under the multi-currency senior
term loan and/or the global line of credit.
A copy of the prospectus supplement and prospectus relating to
these securities may be obtained, when available, by contacting
J.P. Morgan Securities plc collect at +44-207-134-2468; Merrill
Lynch International toll free at +1-800-294-1322; or Morgan Stanley
& Co. International plc toll free at +
1-866-718-1649.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
ABOUT PROLOGIS
Prologis, Inc., is the global leader in
industrial real estate. As of March 31,
2015, Prologis owned or had investments in, on a wholly
owned basis or through co-investment ventures, properties and
development projects expected to total approximately 594 million
square feet (55 million square meters) in 21 countries. The company
leases modern distribution facilities to more than 4,700 customers,
including third-party logistics providers, transportation
companies, retailers and manufacturers.
FORWARD-LOOKING STATEMENT
The statements in this release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These
forward-looking statements include statements regarding Prologis,
Inc. and the Operating Partnership's expectations regarding the
launch of the offering, the sale of the notes, and the intended use
of proceeds from the offering. These forward-looking
statements are based on current expectations, estimates and
projections about the industry and markets in which Prologis, Inc.
and the Operating Partnership operate, management's beliefs and
assumptions made by management. Such statements involve
uncertainties that could significantly impact our financial
results. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates," variations of such words
and similar expressions are intended to identify such
forward-looking statements, which generally are not historical in
nature. All statements that address operating performance,
events or developments that we expect or anticipate will occur in
the future — including statements relating to rent and occupancy
growth, development activity and changes in sales or contribution
volume of properties, disposition activity, general conditions in
the geographic areas where we operate, our debt and financial
position, our ability to form new co-investment ventures and the
availability of capital in existing or new co-investment ventures —
are forward-looking statements. These statements are not guarantees
of future performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Although we believe the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our
expectations will be attained and therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. Some of the factors that may
affect outcomes and results include, but are not limited to: (i)
national, international, regional and local economic climates, (ii)
changes in financial markets, interest rates and foreign currency
exchange rates, (iii) increased or unanticipated competition for
our properties, (iv) risks associated with acquisitions,
dispositions and development of properties, (v) maintenance of real
estate investment trust status and tax structuring, (vi)
availability of financing and capital, the levels of debt that we
maintain and our credit ratings, (vii) risks related to our
investments in our co-investment ventures and funds, including our
ability to establish new co-investment ventures and funds, (viii)
risks of doing business internationally, including currency risks,
(ix) environmental uncertainties, including risks of natural
disasters, and (x) those additional factors discussed in reports
filed with the Securities and Exchange Commission by Prologis, Inc.
and the Operating Partnership under the heading "Risk Factors."
Prologis, Inc. and the Operating Partnership undertake no duty to
update any forward-looking statements appearing in this
release.
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SOURCE Prologis, Inc.