Prologis planning to price guaranteed senior note offer

By Aleesia Forni

Virginia Beach, Oct. 27 – Prologis LP is planning to sell an issue of guaranteed notes, according to a 424B3 filing with the Securities and Exchange Commission.

The notes are guaranteed by Prologis Inc.

Morgan Stanley & Co. LLC, BofA Merrill Lynch and Goldman Sachs & Co. are the joint bookrunners.

The company intends to use proceeds from the sale to repurchase its 4.5% notes due 2017 and to fund a $200 million cash tender offer to purchase its 6.875% notes due 2020, 7.375% notes due 2019 and 6.625% notes due 2019.

In the short term, proceeds will be used to repay outstanding borrowings under a global line of credit and/or a multi-currency senior term loan and for other general corporate purposes, including debt repayment or repurchases.

Denver-based Prologis, Inc. is an owner, operator and developer of industrial real estate.

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