Key Developments: Prologis Inc (PLD)

PLD on New York Consolidated

40.90USD
16 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Prologis Inc's Subsidiary Prices $500 Million Of Guaranteed Notes Due 2021
Thursday, 24 Oct 2013 07:30pm EDT 

Prologis Inc announced that subsidiary Prologis, L.P. (the Operating Partnership) has priced an offering of $500 million aggregate principal amount of notes due February 1, 2021, that have an annual coupon rate of 3.350% and were priced at 99.984% of the principal amount (the notes). The notes will be senior unsecured obligations of the Operating Partnership and will be fully and unconditionally guaranteed by Prologis, Inc. The sale of the notes is expected to close on or about November 1, 2013. The offering has been made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. In the short term, the Operating Partnership intends to use the net proceeds from the sale of the notes to repay borrowings under global line and to fund the cash purchase of certain senior notes (the tender offer notes) that are tendered pursuant to offers to purchase such notes, which commenced on October 24, 2013.  Full Article

Prologis Inc Narrows FY 2013 FFO Guidance To A Range In Line With Analysts' Estimates
Wednesday, 23 Oct 2013 08:01am EDT 

Prologis Inc narrowed its fiscal 2013 Core FFO guidance range to $1.64 to $1.66 per diluted share from $1.63 to $1.67 per diluted share. The company also expects to recognize net earnings, for GAAP purposes, of $0.53 to $0.55 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.65 for fiscal 2013.  Full Article

Prologis Inc Preleases 318,000 Square Feet In China Development
Wednesday, 16 Oct 2013 09:06am EDT 

Prologis, Inc announced that it has preleased a 318,000 square foot (29,500 square meter) facility in China to the e-commerce division of RT-Mart, a traditional retailer. The new facility will be located at Prologis Qingpu Logistics Center in western Shanghai with immediate access to expressways. The facility will serve as the customer's regional e-commerce distribution center for East China. The building represents the second phase at the park. Phase one, a 281,000 square foot (26,100 square meter) facility, has been fully operational since 2011 and is 100% leased. At full build-out, phase two will total 597,560 square feet (55,515 square meters).  Full Article

Prologis Inc Raises $610 Million For Prologis European Properties Fund II
Tuesday, 1 Oct 2013 09:00am EDT 

Prologis Inc announced that Prologis European Properties Fund II (PEPF II) has received new capital commitments of EUR450 million ($610 million) after opening to new investors for the first time. Investor demand exceeded the offering amount and fundraising closed ahead of its mandated period. In September, PEPF II accepted final capital commitments to reach the EUR450 million ($610 million) equity cap for the offering, which includes EUR125 million ($167 million) of additional capital committed by Prologis. Approximately 70% of the equity came from new investors. Subsequent to the raise, almost half of the EUR450 million has been deployed into acquisitions from Prologis and third parties.  Full Article

Prologis Inc Pre-Leases 452,000-Square-Foot Development in Tokyo
Monday, 16 Sep 2013 09:00am EDT 

Prologis Inc announced that two new lease agreements totaling 452,000 square feet (42,000 square meters) at Prologis Park Kawajima 2 in a submarket of Tokyo. The leases were signed with a Japanese third-party logistics provider and a wholesaler of food and snack products. With these transactions, the facility is 100% pre-leased. Construction is expected to be complete in February. Prologis plans to obtain CASBEE Saitama "A" certification for the facility.  Full Article

Prologis Inc Declares Quarterly Dividends
Thursday, 5 Sep 2013 04:31pm EDT 

Prologis Inc announced that it has declared a regular cash dividend for the quarter ending September 30, 2013 on the following securities: A dividend of $0.28 per share of the Company's common stock, which will be payable on September 30, 2013 to common stockholders of record at the close of business on September 16, 2013; and A dividend of $1.0675 per share of the Company's 8.54% Series Q Cumulative Redeemable Preferred Stock, which will be payable on September 30, 2013 to Series Q stockholders of record at the close of business on September 18, 2013.  Full Article

Prologis Inc Announces Pricing Of Notes-Form 8-K
Tuesday, 13 Aug 2013 04:31pm EDT 

Prologis Inc reported in its Form 8-K that on August 8, 2013, Prologis, Inc.’s (Company) operating partnership Prologis, L.P. priced an offering of $400,000,000 aggregate principal amount of its 2.750% notes due 2019 and $850,000,000 aggregate principal amount of its 4.250% notes due 2023. In connection with the offering, the Company and the Operating Partnership entered into an Underwriting Agreement, dated August 8, 2013, with Citigroup Global Markets Inc., Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC, as representatives of the several underwriters named in Schedule A thereto, pursuant to which the Operating Partnership agreed to sell and the Underwriters agreed to purchase the Notes. The issuance and sale of the Notes is expected to close on August 15, 2013. The net proceeds to the Operating Partnership from the sale of the Notes, after the Underwriters’ discounts and offering expenses, are estimated to be approximately $1.24 billion. In the short term, the Operating Partnership intends to use the net proceeds from the sale of the Notes to repay borrowings under its global line and to fund the cash purchase of certain of its senior notes that are tendered pursuant to its offers to purchase such notes, which commenced on August 8, 2013. The Operating Partnership may also use the net proceeds to repay or repurchase other indebtedness and for general corporate purposes.  Full Article

Prologis Inc Narrows FY 2013 FFO Guidance To A Range Below Analysts' Estimates
Wednesday, 24 Jul 2013 08:01am EDT 

Prologis Inc announced that it has narrowed its fiscal 2013 Core FFO guidance range to $1.63 to $1.67 per diluted share. The Company also expects to recognize net earnings, for GAAP purposes, of $0.58 to $0.62 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.69 for fiscal 2013.  Full Article

Prologis Inc To Develop 376,000 Square Foot Build-To-Suit Facility in Poland
Thursday, 20 Jun 2013 09:00am EDT 

Prologis Inc announced it has signed a new build-to-suit agreement with a Polish retailer for a 376,000 square foot (34,900 square meter) distribution center in Poland.  Full Article

Prologis Inc Declares Quarterly Dividends
Thursday, 2 May 2013 05:13pm EDT 

Prologis Inc announce that Board of Directors declared a regular cash dividend for the quarter ending June 30, 2013 on the following securities: A dividend of $0.28 per share of the Company's common stock, which will be payable on June 28, 2013 to common stockholders of record at the close of business on June 11, 2013; and A dividend of $1.0675 per share on the Company's 8.54% Series Q Cumulative Redeemable Preferred Stock, which will be payable on July 1, 2013 to Series Q stockholders of record at the close of business on June 18, 2013.  Full Article

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