SAN FRANCISCO, June 11, 2018 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD) announced today that its operating subsidiary,
Prologis, L.P. (the "Operating Partnership"), has priced an
offering of two series of notes (the "notes") in an aggregate
principal amount of $700 million,
consisting of $400 million aggregate principal amount of
its 3.875% notes due September 15, 2028, priced at 99.320% of
the principal amount, and $300 million aggregate
principal amount of its 4.375% notes due September 15, 2048,
priced at 98.782% of the principal amount. The notes
will be senior unsecured obligations of the Operating Partnership
and will be fully and unconditionally guaranteed by Prologis,
Inc. The sale of the notes is expected to close on or about
June 20, 2018, subject to customary
closing
conditions.
The Operating Partnership intends to use the net proceeds to
repay borrowings under its global line of credit and its Canadian
term loan, as well as for general corporate purposes.
The joint book-running managers for the offering are Citigroup
Global Markets Inc., HSBC Securities (USA) Inc., Wells Fargo Securities, LLC and
Scotia Capital (USA) Inc.
The offering has been made pursuant to an effective shelf
registration statement filed with the Securities and Exchange
Commission (the "SEC"). A copy of the prospectus supplement and
prospectus relating to these securities may be obtained, when
available, at no charge by visiting EDGAR on the SEC website at
www.sec.gov or, alternatively, by contacting Citigroup Global
Markets Inc. at 1 (800) 831-9146, HSBC Securities (USA) Inc. at 1 (866) 811-8049, Wells Fargo
Securities, LLC at 1 (800) 645-3751 or Scotia Capital (USA) Inc. at 1 (800) 372-3930.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Prologis
Prologis, Inc. is the global leader in logistics real estate
with a focus on high-barrier, high-growth markets. As of March
31, 2018, the company owned or had investments in, on a wholly
owned basis or through co-investment ventures, properties and
development projects expected to total approximately 683 million
square feet (63 million square meters) in 19 countries. Prologis
leases modern distribution facilities to a diverse base of
approximately 5,000 customers across two major categories:
business-to-business and retail/online fulfillment.
Forward-Looking Statements
The statements in this release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements include statements regarding Prologis, Inc.'s and the
Operating Partnership's expectations regarding the launch of the
offering, the sale of the notes, and the intended use of proceeds
from the offering. These forward-looking statements are based
on current expectations, estimates and projections about the
industry and markets in which Prologis, Inc. and the Operating
Partnership operate as well as management's beliefs and
assumptions. Such statements involve uncertainties that could
significantly impact our financial results. Words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks"
and "estimates," including variations of such words and similar
expressions, are intended to identify such forward-looking
statements, which generally are not historical in nature. All
statements that address operating performance, events or
developments that we expect or anticipate will occur in the future
— including statements relating to rent and occupancy growth,
development activity, contribution and disposition activity,
general conditions in the geographic areas where we operate, our
debt, capital structure and financial position, our ability to form
new co-investment ventures and the availability of capital in
existing or new co-investment ventures — are forward-looking
statements. These statements are not guarantees of future
performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Although we believe the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our
expectations will be attained and therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. Some of the factors that may
affect outcomes and results include, but are not limited to: (i)
national, international, regional and local economic and political
climates, (ii) changes in global financial markets, interest rates
and foreign currency exchange rates, (iii) increased or
unanticipated competition for our properties, (iv) risks associated
with acquisitions, dispositions and development of properties, (v)
maintenance of real estate investment trust status, tax structuring
and changes in income tax laws and rates, (vi) availability of
financing and capital, the levels of debt that we maintain and our
credit ratings, (vii) risks related to our investments in our
co-investment ventures, including our ability to establish new
co-investment ventures, (viii) risks of doing business
internationally, including currency risks, (ix) environmental
uncertainties, including risks of natural disasters, and (x) those
additional factors discussed in reports filed with the SEC by
Prologis, Inc. and the Operating Partnership under the heading
"Risk Factors." Prologis, Inc. and the Operating Partnership
undertake no duty to update any forward-looking statements
appearing in this release.
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SOURCE Prologis, Inc.