April 20, 2014 10:38 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Prologis LP

Company Overview

AMB Property, L.P. engages in the acquisition, development, and operation of industrial properties in North America, Europe, and Asia. Its industrial properties principally include logistics facilities, centers, or warehouses; distribution facilities, centers, or warehouses; and high throughput distribution facilities. The company, through its subsidiaries, also provides real estate investment services; and develops projects for sale or contribution to third parties. As of March 31, 2007, it owned or had investments in properties and development projects of approximately 128.2 million rentable square feet; and 1,101 buildings in 40 markets within 13 countries. The company also managed approx...

Pier 1 Bay 1

San Francisco, CA 94111

United States

1,468 Employees

Phone:

415-394-9000

Fax:

415-394-9001

Key Executives for Prologis LP

Chairman of AMB Property Corporation
Age: 56
Chief Accounting Officer of AMB Property Corporation and Senior Vice President of AMB Property Corporation
Age: 45
Compensation as of Fiscal Year 2013.

Prologis LP Key Developments

Prologis Announces Early Results of Maximum Tender Offer

Prologis Inc. announced the preliminary results, as of the Early Tender Time, for Prologis LP previously announced cash tender offer to purchase, after giving effect to Prologis' recently completed any and all tender offer for certain other series of notes, up to approximately $45 million, including accrued interest but excluding fees and expenses, of the series of notes of Prologis and its indirect wholly owned subsidiary, Prologis. As of 5:00 pm, ET, November 6, 2013, the aggregate principal amount of Maximum Tender Notes validly tendered and not validly withdrawn was approximately $324.2 million. Holders of Maximum Tender Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time are eligible to receive the applicable Total Consideration, which includes an early tender payment of $30 per $1,000 principal amount of Maximum Tender Notes validly tendered and accepted for purchase, as described in the Offer to Purchase. The Total Consideration will be determined as of 2:00 pm, ET on November 7, 2013. Holders of Maximum Tender Notes who validly tender their notes after the Early Tender Time and at or prior to the Maximum Tender Expiration Time will be eligible to receive the applicable tender offer consideration, which is the Total Consideration minus the early tender payment, as described in the Offer to Purchase. The applicable Total Consideration or tender offer consideration will only be paid to holders of tendered Maximum Tender Notes to the extent that Prologis accepts such notes for purchase. In addition to the Total Consideration or tender offer consideration, as applicable, Prologis will also pay accrued but unpaid interest with respect to notes accepted for purchase from the applicable last interest payment date to, but not including, the Maximum Tender Offer settlement date, which is expected to be November 22, 2013. Because the aggregate principal amount of the Maximum Tender Notes that have been tendered and not validly withdrawn as of the Early Tender Time exceeds the Maximum Tender Amount, the principal amount of a series of Maximum Tender Notes accepted for purchase in the Maximum Tender Offer may be prorated as set forth in the Offer to Purchase. The Maximum Tender Offer is subject to the satisfaction of certain conditions set forth in the Offer to Purchase and the related Letter of Transmittal. If any of the conditions are not satisfied, Prologis will not be obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered notes, in each event subject to applicable laws and may terminate the Maximum Tender Offer. The Maximum Tender Offer is not conditioned on the tender of a minimum principal amount of notes, and Prologis is not soliciting consents from holders of notes in connection with the Maximum Tender Offer.

Prologis, L.P. Issues $500,000,000 Aggregate Principal Amount of its 3.350% Notes Due 2021

On November 1, 2013, Prologis Inc.'s operating partnership Prologis, L.P. issued $500,000,000 aggregate principal amount of its 3.350% notes due 2021 (the Notes). The Notes are being issued under an indenture dated as of June 8, 2011 (the Base Indenture), among the company, the operating partnership and U.S. Bank National Association, as trustee, as supplemented by the first supplemental indenture, dated as of June 8, 2011, the second supplemental indenture, dated as of June 8, 2011, the third supplemental indenture, dated as of June 8, 2011, the fourth supplemental indenture, dated as of June 8, 2011, and the fifth supplemental indenture, dated as of August 15, 2013. The Notes will bear interest at a rate of 3.350% per annum and mature on February 1, 2021. Interest on the Notes is payable semi-annually in arrears on February 1 and August 1 of each year, beginning on February 1, 2014. The Notes are senior unsecured obligations of the Operating Partnership and are fully and unconditionally guaranteed by the company.

Prologis, L.P. Prices $500 Million of Guaranteed Notes Due 2021

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 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, subject to customary closing conditions. 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 senior notes that are tendered pursuant to its offers to purchase such notes, which commenced on October 24, 2013.

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