Prologis, Inc. (PLD): debt financing — Prologis L.P. prices $2.0B in notes (4.875%/5.125%/5.250%) to fund acquisition

Prologis, Inc.

• Sold $750M 4.875% notes due 2028, $750M 5.125% notes due 2034, and $500M 5.250% notes due 2053.
• Net proceeds estimated at ~$1.97 billion after underwriting discount and expenses.
• Proceeds used to fund portion of real estate acquisition announced June 26, 2023 and repay credit line.
• Notes are senior unsecured; redeemable at par after applicable par call dates with make-whole premiums before those dates.
• 2053 notes reopen existing series; total outstanding 5.250% notes due 2053 become $950M.