SAN FRANCISCO, May 31, 2017 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD) announced today that its operating subsidiary,
Prologis, L.P. (the "Operating Partnership"), has priced an
offering of £500 million aggregate principal amount of notes due
2029, that have an annual coupon rate of 2.250% and were priced at
99.940% 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
June 7, 2017, 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 for the full or partial redemption of one or more series
of its notes due in 2019, which may include its 6.625% notes due
December 1, 2019, its 2.750% notes
due February 15, 2019, its 7.375%
notes due October 30, 2019 and the
7.375% notes due October 30, 2019 of
its wholly-owned subsidiary, Prologis. The Operating
Partnership will use the remaining net proceeds for general
corporate purposes, including to repay or repurchase other
indebtedness. In the short term, the Operating Partnership intends
to use the net proceeds to repay borrowings under its
multi-currency senior term loan. A copy of the prospectus
supplement and prospectus relating to these securities may be
obtained, when available, by contacting HSBC Bank plc toll free at
+1-866-811-8049; J.P. Morgan Securities plc collect at
+44-207-134-2468; or Merrill Lynch International collect at
+44-207-995-3966.
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 March
31, 2017, 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 678 million
square feet (63 million square meters) in 19 countries. Prologis
leases modern distribution facilities to a diverse base of
approximately 5,200 customers across two major categories:
business-to-business and retail/online fulfillment.
Forward-Looking Statements
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.'s 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 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 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 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/prologis-lp-prices-500-million-of-guaranteed-notes-due-2029-300466549.html
SOURCE Prologis, Inc.