By William Gullotti
Buffalo, N.Y., Feb. 22 – Prologis, LP priced C$550 million of 4.7% notes due 2029 (A3/A) at 99.881, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 110 basis points over Canadian Treasuries to yield 4.743%.
The notes feature a make-whole call at the Canadian bond yield plus 27.5 bps until Feb. 1, 2029, followed by a par call.
Scotia Capital Inc. and TD Securities Inc. are the joint bookrunning managers.
Proceeds will be used for general corporate purposes, including repayment of borrowings under the company’s global lines of credit.
Prologis is a real estate investment trust based in San Francisco.
| Issuer: | Prologis, LP
|
| Amount: | C$550 million
|
| Issue: | Notes
|
| Maturity: | March 1, 2029
|
| Bookrunners: | Scotia Capital Inc. and TD Securities Inc.
|
| Coupon: | 4.7%
|
| Price: | 99.811
|
| Yield: | 4.743%
|
| Spread: | 110 bps over Canadian Treasuries
|
| Call: | Make-whole at Canadian bond yield plus 27.5 bps until Feb. 1, 2029, then callable at par
|
| Trade date: | Feb. 22
|
| Settlement date: | March 1
|
| Ratings: | Moody’s: A3
|
| S&P: A
|
| Distribution: | SEC registered and private placement in Canada
|
| Cusip: | 74340XCL3
|
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