Prologis Prices $280.6M Yen-Denominated Senior Unsecured Notes
PLD sits 43% above its 52-week low of $103.41 on light trading volume (0.1× avg).
Summary
Prologis priced a new ¥45 billion ($280.6 million) offering of senior unsecured notes with maturities ranging from 2030 to 2041, with proceeds allocated to debt repayment and general corporate purposes.
Key Events · Financing and Capital Events · PLD
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Pricing of Yen-Denominated Notes
Prologis Yen Finance LLC priced an offering of ¥45 billion (approximately $280.6 million) in senior unsecured notes, consisting of three tranches: ¥32.6 billion due 2030 at 2.527%, ¥3.5 billion due 2035 at 3.389%, and ¥8.9 billion due 2041 at 3.905%.
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Use of Proceeds
The estimated net proceeds of approximately $280.6 million will be used to repay borrowings under the Operating Partnership's Japanese yen revolving credit agreement and for general corporate purposes.
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Unsecured Obligation
The notes are senior unsecured obligations of Prologis Yen Finance LLC and are fully and unconditionally guaranteed by Prologis, L.P.
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Expected Closing
The issuance and sale of the notes are expected to close on June 11, 2026.
Analysis · PLD · Real Estate & Construction
Prologis, L.P. has priced a new offering of ¥45 billion (approximately $280.6 million) in senior unsecured notes across three tranches. This debt issuance finalizes the terms of an offering initiated under a shelf registration statement and is intended to repay existing Japanese yen credit facilities and for general corporate purposes. This is a significant capital raise in absolute terms, demonstrating the company's ability to access diverse capital markets for its financing needs.
At the time of this filing, PLD was trading at $147.45 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $140.4B. The 52-week trading range was $103.41 to $148.29. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.