Prologis to price new notes in two parts via five bookrunners

By William Gullotti

Buffalo, N.Y., Jan. 18 – Prologis, LP plans to price an offering of notes in two parts via five bookrunners, according to a 424B3 filing with the Securities and Exchange Commission.

Each tranche of the SEC-registered offering will feature an optional make-whole call until some months prior to maturity, followed by a par call.

BofA Securities, Inc., ING Financial Markets LLC, J.P. Morgan Securities LLC, Mizuho Securities USA LLC and SMBC Nikko Securities America, Inc. are the joint bookrunning managers.

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 repayment of borrowings from the company’s global lines of credit. As of Jan. 15, approximately $930 million was outstanding under the credit lines, with a weighted average interest rate of 5.9%, which mature on June 30, 2026 and June 30, 2027.

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

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