Prologis (PLD) issues $2.0 billion of unsecured notes.

Prologis (PLD) announced today that it has issued approximately $2.0 billion of senior unsecured notes in a three-part offering.  Proceeds will be used to redeem $1.5 billion of senior notes called by Prologis, with the remainder used to finance operations.  The notes are expected to be rated A3/A- by Moody's and S&P.

• • • $400 million of 1.625% senior notes due 2031.  The notes were issued at a discount to yield 1.689%, or +55 basis points to the treasury curve.
    • €850 million of 0.500% senior unsecured notes due 2032.  The notes were priced at 99.606 to yield 0.537%, or +65 basis points to the mid-swap curve.
    • €500 million of 1.000% senior unsecured notes due 2041.  The notes were priced at 99.496 to yield 1.028%, or +88 basis points to the mid-swap curve.

Founded in 1983, Prologis (PLD) is the world's largest owner/developer of industrial real estate properties with a total managed portfolio aggregating 867 million square feet in 19 countries. Prologis is a member of the S&P 500 and has a consolidated total market capitalization of approximately $96 billion.

02/22/2021