Issuer:
|
ProLogis | |
Security:
|
6.625% Notes due 2018 | |
Size:
|
$600,000,000 | |
Maturity Date:
|
May 15, 2018 | |
Coupon:
|
6.625% per annum, payable semi-annually | |
Interest Payment Dates:
|
May 15 and November 15, commencing November 15, 2008 | |
Price to Public:
|
99.766% | |
Underwriting Discount:
|
0.650% | |
Concurrent Offering:
|
Concurrently with this offering, ProLogis is offering $500,000,000 aggregate principal amount of convertible notes due 2038 (the convertible notes) in a registered public offering ($550,000,000 aggregate principal amount if the underwriters exercise their overallotment option to purchase additional convertible notes in full). The convertible notes will be offered pursuant to a separate prospectus supplement. There is no assurance that the concurrent offering of convertible notes will be completed or, if completed, that it will be completed for the amounts contemplated. The completion of this offering is not conditioned on the completion of the concurrent offering of the convertible notes. | |
Net Proceeds, Before
Expenses, to ProLogis:
|
$594,696,000 | |
Use of Proceeds:
|
The net proceeds from the sale of the notes are estimated to be approximately $594.7 million, after deducting the underwriters discount and estimated offering expenses. ProLogis will use the net proceeds from the sale of the notes and the concurrent offering of the convertible notes to repay a portion of the borrowings under its global line of credit and for general corporate purposes. | |
Spread to Benchmark Treasury:
|
+ 290 basis points | |
Benchmark Treasury:
|
3.500% due February 2018 | |
Benchmark Treasury Spot:
|
97-29 | |
Benchmark Treasury Yield:
|
3.757% | |
Reoffer Yield:
|
6.657% | |
Make-Whole Call:
|
Treasury Rate + 50 basis points | |
Expected Settlement Date:
|
May 7, 2008 (T+4)* | |
CUSIP / ISIN:
|
743410 AT9 / US743410AT97 | |
Ratings:
|
Baa1 (stable) / BBB+ (stable) / BBB+ (stable) | |
Joint Book-Running Managers:
|
Citigroup Global Markets Inc. Goldman, Sachs & Co. Greenwich Capital Markets, Inc. |
Senior Co-Managers:
|
Barclays Bank PLC Deutsche Bank Securities Inc. Lehman Brothers Inc. |
|
Co-Managers:
|
Piper Jaffray & Co. Scotia Capital (USA) Inc. UBS Securities LLC Wachovia Capital Markets, LLC |