By Andrea Heisinger
Omaha, May 1 - ProLogis priced an upsized $600 million offering of 6.625% 10-year senior notes on Thursday to yield Treasuries plus 290 basis points, an informed source said.
The size was increased from $350 million.
The notes have a price of 99.766 to yield 6.657%.
The notes priced at the tight end of talk, which was 290 bps to 300 bps more than Treasuries, the source said.
Bookrunners were Citigroup Global Markets Inc., Goldman Sachs & Co. and RBS Greenwich Capital Markets.
Proceeds will be used to repay a portion of outstanding balances under a global line of credit and for general corporate purposes.
The owner and developer of worldwide distribution facilities is based in Denver.
| Issuer: | ProLogis
|
| Issue: | Senior notes
|
| Amount: | $600 million, increased from $350 million
|
| Maturity: | May 15, 2018
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., RBS Greenwich Capital Markets
|
| Coupon: | 6.625%
|
| Price: | 99.766
|
| Yield: | 6.657%
|
| Spread: | Treasuries plus 290 bps
|
| Trade date: | May 1
|
| Settlement date: | May 7
|
| Price talk: | 290 to 300 bps
|
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