SAN FRANCISCO, Jan. 28, 2020 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD; "Prologis"), the global leader in logistics real
estate, announced today that its subsidiary, Prologis Euro Finance
LLC, has priced an offering of three series of notes (the "Notes")
in an aggregate principal amount of €1,350,000,000, consisting of
€650,000,000 aggregate principal amount of its 1.000% notes due
2035, priced at 98.474% of the principal amount, €550,000,000
aggregate principal amount of its 0.375% green bonds due 2028,
priced at 99.749% of the principal amount and €150,000,000
aggregate principal amount of its floating rate notes due 2022,
priced at 100.245% of the principal amount.
The Notes will be senior unsecured obligations of Prologis Euro
Finance LLC and will be fully and unconditionally guaranteed by
Prologis, L.P. The sale of the Notes is expected to close on or
about February 6, 2020, subject to
customary closing conditions.
Prologis Euro Finance LLC intends to lend or distribute the net
proceeds from the offering of the 2035 notes and the 2022 notes to
Prologis, L.P., or one of its other subsidiaries. Prologis, L.P.
intends to use the net proceeds to repay indebtedness, which may
include the redemption of its 1.375% Notes due 2021. Prologis, L.P.
expects to use the remaining net proceeds for general corporate
purposes. Prologis Euro Finance LLC intends to lend or distribute
the net proceeds from the offering of 2028 green bonds to Prologis,
L.P., who will use the amounts received to finance or refinance, in
whole or in part, the "Eligible Green Project Portfolio" as defined
in the offering's prospectus supplement. In the short term,
Prologis, L.P. may also use the amounts received to repay
borrowings under its global line of credit.
The joint book-running managers for the offering are Merrill
Lynch International, HSBC Bank plc and Morgan Stanley & Co.
International plc.
The offering has been made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission (the "SEC"). A copy of the prospectus supplement and the
prospectus relating to these securities may be obtained, when
available, at no charge by visiting EDGAR on the SEC website at
www.sec.gov or, alternatively, by contacting Merrill Lynch
International toll-free at (800) 294-1322, HSBC Bank plc toll-free
at (866) 811-8049 or Morgan Stanley & Co. International plc
toll-free at (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 logistics real estate
with a focus on high-barrier, high-growth markets. As of
December 31, 2019, the company owned
or had investments in, on a wholly owned basis or through
co-investment ventures, properties and development projects
expected to total approximately 814 million square feet (76 million
square meters) in 19 countries. Prologis leases modern logistics
facilities to a diverse base of approximately 5,000 customers
principally across two major categories: business-to-business and
retail/online fulfillment.
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 include statements regarding Prologis, Inc.'s, Prologis,
L.P.'s and Prologis Euro Finance LLC's expectations regarding 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 we operate as well as management's beliefs and
assumptions. Such statements involve uncertainties that could
significantly impact our financial results. Words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
and ""estimates, including 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, contribution and disposition activity,
general conditions in the geographic areas where we operate, our
debt, capital structure 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 and political
climates; (ii) changes in global 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, tax structuring
and changes in income tax laws and rates; (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, including our ability to establish new
co-investment ventures; (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 SEC by us
under the heading "Risk Factors." We undertake no duty to update
any forward-looking statements appearing in this document except as
may be required by law.
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SOURCE Prologis, Inc.