Chicago, Jan. 30 – Prologis, LP priced RMB 1.5 billion of three-year bonds (A3/A) on Tuesday, according to a market source.
The bonds priced with a 3˝% coupon at par.
Initial talk was in the 3.7% area. Guidance moved that number lower to 3˝%.
An early redemption may occur if the issuer calls the notes at par in the three months before the maturity date.
The joint bookrunners on the Regulation S issue were Bank of China (Hong Kong) (billing and delivery), HSBC and ING.
Proceeds will be used for general corporate purposes, including to repay borrowings under the issuer’s global lines of credit.
The listing for the notes will be in Singapore.
Prologis is a real estate investment trust based in San Francisco.
| Issuer: | Prologis, LP
|
| Amount: | RMB 1.5 billion
|
| Issue: | Senior notes
|
| Maturity: | Feb. 6, 2027
|
| Bookrunners: | Bank of China (Hong Kong) (billing and delivery), HSBC and ING
|
| Co-managers: | Credit Agricole CIB, DBS Bank Ltd., OCBC and Standard Chartered Bank
|
| Coupon: | 3˝%
|
| Price: | Par
|
| Yield: | 3˝%
|
| Call features: | Three-month par call
|
| Trade date: | Jan. 30
|
| Settlement date: | Feb. 6
|
| Ratings: | Moody’s: A3
|
| S&P: A
|
| Distribution: | Regulation S
|
| Price talk: | 3.7% area; guided to 3˝%
|
| ISIN: | HK0000987716
|
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