Prologis to price new notes in two parts, tap of 5.25% notes due 2053

By Marisa Wong

Los Angeles, June 26 – Prologis, LP plans to price an offering of notes in three parts, according to a 424B3 filing with the Securities and Exchange Commission.

Prologis will price two new tranches of fixed-rate notes and an add-on tranche. The additional notes will constitute a further issuance of the company’s 5.25% notes due 2053 and will form a single series with the existing $450 million of notes issued on March 30.

Each tranche will feature an optional make-whole call until some months prior to maturity, followed by an optional par call. The par call date is Dec. 15, 2052 for the 2053 notes.

BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and TD Securities (USA) LLC are the joint bookrunners.

U.S. Bank Trust Co., NA is the trustee.

Mayer Brown LLP will act as counsel for the issuer. Sidley Austin LLP will act as counsel for the underwriters.

Proceeds will be used for general corporate purposes, including funding a portion of an acquisition of real estate assets and repayment of any borrowings under the company’s global lines of credit used for the acquisition.

Prologis is a real estate investment trust based in San Francisco.

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