ProLogis prices $400 million of convertible notes, $1.1 billion of fixed-rate notes
By APTuesday, March 9, 2010
ProLogis prices $1.5B of senior notes
DENVER — ProLogis, a real estate investment trust, priced $400 million of convertible senior notes and $1.1 billion of fixed-rate senior notes Tuesday.
The sale is expected to close on March 16. ProLogis said it plans to use the proceeds from both offerings to pay down debt.
The convertible senior notes mature March 15, 2015, at a rate of $17.29 per share, a 29 percent premium to Tuesday’s closing price.
Of the fixed-rate notes, $800 million are due March 15, 2020. They have an annual coupon rate of 6.9 percent. The remaining notes are due March 15, 2017, and have an annual coupon rate of 6.25 percent.
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