Prologis to repay line of credit, Canadian term loan debt via notes

By Sarah Lizee

Olympia, Wash., June 11 – Prologis, LP plans to repay borrowings under its global line of credit and its Canadian term loan using proceeds from a two-tranche offering of notes due 2028 and 2048, according to a 424B3 filed with the Securities and Exchange Commission on Monday.

As of June 5, there was about $329 million outstanding under the global line of credit and the weighted average interest rate was 2.3%. There was C$171 million outstanding under the Canadian term loan and the interest rate was 3.1%.

The global line of credit matures on April 30, 2020 and the Canadian term loan matures on Feb. 1, 2023.

Proceeds from the offering will also be used for general corporate purposes.

Prologis is a logistics real estate company based in San Francisco.

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