3/17/2010- ProLogis (NYSE:PLD) announced it has closed an offering of fixed-rate and convertible senior notes priced on March 9, 2010, according to a Bloomberg report.
The company also said that the underwriters exercised their $60 million over-allotment option, bringing the convertible senior note issuance to $460 million. Combined with $1.1 billion of the seven- and ten-year notes, ProLogis closed on net proceeds of $1.54 billion of senior notes.
CFO William E. Sullivan said, "These new debt issuances and the tender offer that closed Monday go a long way toward addressing ProLogis' goal of further smoothing debt maturities. We are pleased with the participation in both the tender and the debt offering and believe the significant oversubscription of more than four times the debt issued demonstrates our access to the capital markets and reflects the market's appreciation for our recent efforts."
Keywords: ProLogis
Ticker(s): PLD
