Prologis Announces Pricing Of $1.25 Bln Of Guaranteed Notes

(RTTNews) - Prologis, Inc. (PLD) said Thursday that its operating subsidiary Prologis, L.P. has priced an offering of two series of notes with $1.25 billion aggregate principal amount.

Included in the aggregate amount are $400 million of notes due February 15, 2019, that have an annual coupon rate of 2.75% and were priced at 99.965% of the principal amount and $850 million of notes due August 15, 2023, that have an annual coupon rate of 4.25% and were priced at 99.742% of the principal amount.

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 August 15.

In the short term, the Operating Partnership plans to use the net proceeds from the sale of the notes to repay borrowings under its global line and to fund the cash purchase of certain senior notes that are tendered pursuant to its offers to purchase such notes, which commenced on August 8, 2013.