Prologis Secures $4B Credit Facility

TL;DR

Prologis just boosted its credit line to $4B, replacing a $3B one. More ammo for deals.

AI Summary

On July 18, 2024, Prologis, Inc. and Prologis, L.P. entered into a new credit agreement, establishing a revolving credit facility with a total commitment of $4.0 billion. This facility replaces their previous $3.0 billion revolving credit facility, enhancing their financial flexibility.

Why It Matters

This expansion of Prologis' credit facility provides greater financial resources, potentially enabling further investments in real estate assets and operations.

Risk Assessment

Risk Level: low — The filing details a routine credit facility amendment, which is a standard financial operation for large companies and does not indicate any immediate or significant risks.

Key Numbers

• $4.0B — New Credit Facility Commitment (Represents increased borrowing capacity for Prologis.)
• $3.0B — Previous Credit Facility Commitment (Indicates the scale of the upgrade in borrowing capacity.)

Key Players & Entities

• Prologis, Inc. (company) — Registrant
• Prologis, L.P. (company) — Subsidiary/Borrower
• $4.0 billion (dollar_amount) — Total commitment under new credit facility
• $3.0 billion (dollar_amount) — Previous revolving credit facility amount
• July 18, 2024 (date) — Effective date of the credit agreement

FAQ

Key Financial Figures

• $0.01 — stered Prologis, Inc. Common Stock, $0.01 par value PLD New York Stock Exchan
• $700,000,000 — ating Partnership priced an offering of $700,000,000 aggregate principal amount of its 5.000
• $400,000,000 — 35 (the "2035 Notes") and an additional $400,000,000 aggregate principal amount of its 5.250
• $450,000,000 — rship's 5.250% Notes due 2054, of which $450,000,000 aggregate principal amount was issued o
• $850,000,000 — es, the Operating Partnership will have $850,000,000 aggregate principal amount of 5.250% No
• $1.1 billion — nses, are estimated to be approximately $1.1 billion. The Operating Partnership intends to u

Filing Documents

• tm2419631d5_8k.htm (8-K) — 66KB
• tm2419631d5_ex1-1.htm (EX-1.1) — 260KB
• tm2419631d5_ex4-1.htm (EX-4.1) — 30KB
• tm2419631d5_ex4-2.htm (EX-4.2) — 37KB
• tm2419631d5_ex4-3.htm (EX-4.3) — 30KB
• tm2419631d5_ex4-4.htm (EX-4.4) — 37KB
• tm2419631d5_ex5-1.htm (EX-5.1) — 12KB
• tm2419631d5_ex1-1img001.jpg (GRAPHIC) — 23KB
• tm2419631d5_ex5-1img001.jpg (GRAPHIC) — 13KB
• 0001104659-24-081633.txt ( ) — 863KB
• pld-20240718.xsd (EX-101.SCH) — 4KB
• pld-20240718_def.xml (EX-101.DEF) — 28KB
• pld-20240718_lab.xml (EX-101.LAB) — 38KB
• pld-20240718_pre.xml (EX-101.PRE) — 26KB
• tm2419631d5_8k_htm.xml (XML) — 12KB

Underwriting

Underwriting Agreement, dated July 18, 2024, between Prologis, L.P., BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and SMBC Nikko Securities America, Inc., as representatives of the several underwriters named in Schedule A thereto. 4.1 Form of Officers' Certificate related to the 5.000% Notes due 2035. 4.2 Form of 5.000% Notes due 2035. 4.3 Form of Officers' Certificate related to the 5.250% Notes due 2054. 4.4 Form of 5.250% Notes due 2054. 5.1 Opinion of Mayer Brown LLP. 23.1 Consent of Mayer Brown LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File – the cover page iXBRL tags are embedded within the Inline XBRL document.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PROLOGIS, INC. Date: July 23, 2024 By: /s/ Anne DeMarco Name: Anne DeMarco Title: Vice President and Assistant Secretary PROLOGIS, L.P. By: Prologis, Inc., its General Partner Date: July 23, 2024 By: /s/ Anne DeMarco Name: Anne DeMarco Title: Vice President and Assistant Secretary

View Full Filing

View this 8-K filing on SEC EDGAR