San Francisco, March 22, 2024 -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, announces the issuance by Prologis, L.P. of a three-year bond for 1.5 billion CNY (Chinese Yuan Renminbi) denomination, or approximately $200M USD, due 2027 and bearing a coupon of 3.5%. This strategic move aligns with the company’s efforts to diversify its funding sources in the currencies in which it operates and expand its global investor base.

The offering is listed on the Singapore Exchange, signifying Prologis' commitment to bolstering its presence in the Asian market. This will allow the company to further tap into the robust Asian capital markets.

"Asia offers tremendous economic potential, and this bond issuance will allow us to leverage this potential," said Timothy D. Arndt, chief financial officer, Prologis. "Through this bond offering, we are diversifying our capital sources and creating stronger ties with the Asian financial community. We see this as an opportunity to continue to grow our presence and strength in the region.” 


The CNY bond issuance underscores the strength of Prologis' balance sheet and emphasizes its commitment to value creation for its stakeholders.

Prologis celebrated its inaugural offering by striking the gong earlier today at the Singapore Exchange (SGX). Company leaders Karsten Kallevig, global head of Strategic Capital, Tracy Patel, SVP, capital markets, Claire Thielke, chief investment officer, Asia and Eddie Huang, president, Prologis Greater China, were joined by representatives from the SGX and managers for the offering, including the joint bookrunners, Bank of China (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited (HSBC) and ING Bank N.V., Singapore Branch.

Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,700 customers principally across two major categories: business-to-business and retail/online fulfillment.

The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Words such as “will,” "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to diversification of funding sources, expansion of our investor base, general conditions in the geographic areas where we operate and our debt, capital structure and financial position—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.



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