SAN FRANCISCO, May 13, 2015 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD), the global leader in industrial real estate, today
announced that its operating subsidiary, Prologis, L.P. (the
"Operating Partnership"), has closed its previously announced
offering of €700 million (approximately $786
million) aggregate principal amount of 1.375% notes due
May 13, 2021.
The notes are senior unsecured obligations of the Operating
Partnership and are fully and unconditionally guaranteed by
Prologis, Inc. The offering was made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission.
"We are very pleased with the market's positive response to our
offering," said Tom Olinger, chief
financial officer, Prologis. "This offering gives us the ability to
replace short-term euro hedges with long-term euro financing. It is
also the first step to provide us with additional liquidity and
optionality in the U.S. to fund our share of the purchase price for
our anticipated acquisition of assets from KTR Capital
Partners and its affiliates."
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.
Logo - http://photos.prnewswire.com/prnh/20141120/159840LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/prologis-lp-announces-the-closing-of-700-million-of-guaranteed-notes-due-2021-300082555.html
SOURCE Prologis, Inc.