By Andrea Heisinger
New York, Oct. 27 - ProLogis priced $600 million of 7.375% 10-year senior notes on Tuesday to yield Treasuries plus 395 basis points, an informed source said.
This was tighter than talk in the 412.5 bps area, which a source quoted early in the day.
The notes (Baa2/BBB-/) priced at 99.728 to yield 7.414%. They have a make-whole call at Treasuries plus 50 bps.
Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Goldman Sachs & Co. ran the books.
Proceeds will be used to repay borrowings under a global line of credit and for general corporate purposes, including repayment and repurchase of debt.
The industrial distribution facilities operator is based in Denver.
| Issuer: | ProLogis
|
| Issue: | Senior notes
|
| Amount: | $600 million
|
| Maturity: | Oct. 30, 2019
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co.
|
| Coupon: | 7.375%
|
| Price: | 99.728
|
| Yield: | 7.414%
|
| Spread: | Treasuries plus 395 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Trade date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
| Price talk: | 412.5 bps area
|
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