ProLogis buys back $273.2 million of convertibles for $153.2 million in March, April

By Angela McDaniels

Tacoma, Wash., May 7 - ProLogis repurchased $48.2 million principal amount of its convertible notes for $24.8 million during March and recognized a gain of $17.9 million.

In April, the company repurchased $225.0 million principal amount of its convertibles for $128.4 million.

The company reported the repurchases in its 10-Q report for the first quarter, which was filed with the Securities and Exchange Commission on Thursday.

ProLogis, a Denver-based provider of distribution facilities, has three series of convertibles: its $1.12 billion of 1.875% convertible senior notes due 2037, its $1.25 billion of 2.25% convertible senior unsecured ntoes due 2037 and its $550 million of 2.625% convertible senior notes due 2038.

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