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S&P rates ProLogis note BBB-
Standard & Poor's said it assigned a BBB- rating to the $300 million 6.25% senior notes due 2017, the $800 million 6.875% senior notes due 2020 and the $400 million 3.25% convertible senior notes due 2015 issued by ProLogis.
The outlook is negative.
Proceeds will be used to repay $835.9 million (including $99.3 million of letters of credit) in outstanding borrowings under its $3.7 billion global line of credit, fund a tender offer and for general corporate purposes.
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