Prologis L.P. To Offer Guaranteed Notes Due 2022 - Quick Facts

(RTTNews) - Prologis, Inc.'s (PLD) operating subsidiary, Prologis, L.P., launched the offering of a new series of notes due 2022 in an underwritten registered public offering. The notes would be denominated in euros and would be senior unsecured obligations of the Operating Partnership and would be fully and unconditionally guaranteed by Prologis, Inc. The aggregate principal amount and coupon rate of the notes would be determined at the time the notes are sold to investors.

The Operating Partnership would use a part of the net proceeds from the sale of the notes to fund the cash purchase of certain guaranteed senior notes issued by its majority-owned unit, Prologis International Funding S.A., and the rest of the net proceeds for general corporate purposes, including to repay or buy back other indebtedness. In the short term, the Operating Partnership plans to use the net proceeds to repay borrowings under its multi-currency senior term loan and/or global line of credit.