SAN FRANCISCO, Oct. 27, 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 $750
million aggregate principal amount of notes due November 1, 2025, that have an annual coupon rate
of 3.750% and were priced at 99.381% 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 October 30,
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 intends to use a portion of the net
proceeds to repurchase all of the outstanding principal amount of
its 4.5% Notes due 2017 (the "2017 notes"). In addition, the
Operating Partnership intends to use a portion of the net proceeds
to fund all or a part of its $200
million cash tender offer to purchase certain of its senior
notes (the "tender offer notes"), which commenced on October 27, 2015. The Operating Partnership also
intends to use a portion of the net proceeds for other general
corporate purposes, including other debt repayment or repurchases.
In the short term, the Operating Partnership expects to use a
portion of the net proceeds to repay outstanding borrowings under
its global line of credit and/or multi-currency senior term loan.
Affiliates of Morgan Stanley & Co. LLC, Goldman, Sachs &
Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and
certain of the other underwriters are lenders under the global line
of credit and/or multi-currency senior term loan and certain of the
underwriters or their affiliates hold positions in the 2017 notes
and tender offer
notes.
A copy of the prospectus supplement and prospectus relating to
these securities may be obtained, when available, by contacting
Morgan Stanley Prospectus Department, 180 Varick Street, 2nd Floor,
New York, New York 10014, Attn:
Prospectus Department, toll free telephone: 866-718-1649 or e-mail:
prospectus@morganstanley.com; Goldman, Sachs & Co., 200 West
Street, New York, NY 10282, Attn:
Prospectus Department, toll free telephone: 866-471-2526,
facsimile: 212-902-9316 or e-mail: prospectus-ny@ny.email.gs.com;
or Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222
Broadway, 11th Floor, New York, New
York 10038, Attn: Prospectus Department, toll free
telephone: 800-294-1322 or e-mail:
dg.prospectus_requests@baml.com.
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. This press release also
shall not constitute an offer to purchase, nor a solicitation of an
offer to sell, the 2017 notes, the tender offer notes or any other
securities. The Operating Partnership is making the offers to
purchase only by, and pursuant to, the terms of an offer to
purchase and the related letter of transmittal.
ABOUT PROLOGIS
Prologis, Inc. is the global leader in industrial real estate.
As of September 30, 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 671 million square feet (62 million
square meters) in 21 countries. The company leases modern
distribution facilities to more than 5,200 customers, including
third-party logistics providers, transportation companies,
retailers and manufacturers.
FORWARD-LOOKING STATEMENTS
The statements in this document 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 are based on current expectations, estimates and
projections about the industry and markets in which Prologis
operates, management's beliefs and assumptions made by management.
Such statements involve uncertainties that could significantly
impact Prologis' 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 ("REIT") 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 under
the heading "Risk Factors." Prologis undertakes no duty to update
any forward-looking statements appearing in this document.
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SOURCE Prologis, Inc.