Prologis, L.P. priced an offering of C$700,000,000 aggregate principal amount of its 3.600% Notes due 2032 on October 20, 2025, the company said. The Operating Partnership expects the issuance and sale of the Notes to close on October 27, 2025.

1. 01

   Prologis, L.P. priced an offering of C$700,000,000 aggregate principal amount of its 3.600% Notes due 2032 on October 20, 2025, the company said. The Operating Partnership expects the issuance and sale of the Notes to close on October 27, 2025.

2. 02

   The company said Prologis, L.P. estimates net proceeds from the sale of the Notes, after the Underwriters' discount and offering expenses, at approximately C$693.6 million. It intends to use the net proceeds for general corporate purposes, which may include the repayment of borrowings under its global lines of credit, a Canadian dollar secured mortgage loan and possibly other debt.

3. 03

   The company said the Notes will bear interest at a rate of 3.600% per annum and mature on February 15, 2032, and will be senior unsecured obligations of Prologis, L.P. The Notes are being sold pursuant to an Underwriting Agreement with Scotia Capital Inc. and TD Securities Inc., as the underwriters.

4. 04

   Prologis said that prior to December 15, 2031 (the Par Call Date), the Notes will be redeemable at the option of the Operating Partnership at a redemption price equal to the greater of 100% of the principal amount and the sum of the present values of the remaining scheduled payments of interest and principal using as a discount rate the Government of Canada Yield Rate plus 21.5 basis points. On or after the Par Call Date, the Notes will be redeemable at 100% of the principal amount. The company added that the Indenture restricts the Operating Partnership's and its subsidiaries' ability to incur additional indebtedness and to merge or consolidate with any other person or sell, assign, transfer, lease, convey or otherwise dispose of substantially all of its assets.

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