Prologis, Inc. (PLD): debt financing — Prologis enters JPY58.5B yen revolver, maturing Aug 2027, with sustainability pricing

Prologis, Inc.

Prologis L.P. guarantees JPY58.5B revolver (expandable to JPY75.0B) for Japanese subsidiary.
Spread set at 34 bps over TIBOR; margin adjusts based on LEED certification and solar metrics.
Maturity August 25, 2027, with one-year extension option upon fee payment.
Cross-acceleration triggered if recourse debt exceeds USD150M.
Prologis, Inc. not a guarantor unless it later guarantees other debt.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Prologis, Inc. amended revolving credit of JPY58.5 billion with Sumitomo Mitsui Banking Corporation at spread over TIBOR ... 34 basis points maturing August 25, 2027.

Instrument: revolving credit
Principal: JPY58.5 billion
Counterparty: Sumitomo Mitsui Banking Corporation
Rate: spread over TIBOR ... 34 basis points
Maturity: August 25, 2027
Event: amendment

Exact text from the filing

to the Yen Revolver, the borrowers thereunder may obtain loans and/or procure the issuance of letters of credit on a revolving basis in an aggregate amount not exceeding JPY58.5 billion. The Operating Partnership may increase the availability under the Yen Revolver to an amount not exceeding JPY75.0 billion by adding additional lenders to the facility or

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Prologis, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-097289

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