Prologis Announces C$750 Million Bond Issuance at 4.2% Interest

Prologis, Inc. and its operating partnership, Prologis, L.P., have announced a successful bond issuance of C$750 million in 4.2% senior unsecured notes due in 2033. The offering was priced on January 28, 2025, and is expected to close on February 4, 2025.

Scotia Capital Inc. and TD Securities Inc. served as underwriters for the transaction. After underwriting discounts and offering expenses, Prologis expects net proceeds of approximately C$742.6 million. The company plans to use these funds for general corporate purposes, including repaying debt under its global credit lines.

The bonds, issued under an existing indenture agreement, carry certain restrictions on additional debt issuance, mergers, and asset sales. Investors will have the option to redeem the bonds before maturity, with different pricing mechanisms depending on the redemption date.

Prologis, Inc. is a leading global logistics real estate company, and its stock (PLD) is traded on the New York Stock Exchange.