Home Featured Prologis Euro Finance LLC prices €700M Offering of Guaranteed Notes due 2029

Prologis Euro Finance LLC prices €700M Offering of Guaranteed Notes due 2029


San Francisco-based Prologis, Inc. recently revealed that its subsidiary, Prologis Euro Finance LLC, has priced an offering of €700 million aggregate principal amount of notes due 2029 that have an annual coupon rate of 1.875% and were priced at 99.452% 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.

According to a prepared statement, the sale of the notes is expected to close on or about August 1, 2018, subject to customary closing conditions. Prologis Euro Finance LLC intends to lend the net proceeds from the offering to Prologis L.P. or one of its other subsidiaries, which will use the amounts received by them for general corporate purposes, including to repay or repurchase other indebtedness. In the short-term, it is intended that the net proceeds will be placed in short-term investments.

The joint book-running managers for the offering are BNP Paribas, Goldman Sachs & Co. LLC, J.P. Morgan Securities plc and ING Bank N.V.

The offering has been made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2018, 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 685 million square feet (64 million square meters) in 19 countries.