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PROLOGIS, INC.

(PLD)
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PROLOGIS, INC. : Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

04/16/2021 | 04:48pm EDT

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

Off-Balance

Sheet Arrangement of a Registrant.



On April 15, 2021, Prologis, L.P., a Delaware limited partnership (the
"Operating Partnership"), and various affiliates of the Operating Partnership
entered into a Global Senior Credit Agreement (the "Global Facility") with
various lenders and Bank of America, N.A., as Global Administrative Agent.
Pursuant to the Global Facility, the Operating Partnership and various
affiliates thereof (collectively the "Borrowers") may obtain loans and/or
procure the issuance of letters of credit in various currencies on a revolving
basis in an aggregate amount not exceeding the U.S. Dollar equivalent of
approximately $1,002,000,000 (subject to increase to not more than the
U.S. Dollar equivalent of $2,000,000,000 (determined as of the effective date of
such increase) pursuant to the accordion feature included in the Global
Facility). As of the closing date, the Global Facility has two tranches: (i) a
U.S. Dollar Tranche in the amount of $600,000,000 and (ii) a Euro Tranche in the
amount of €338,271,000.
The Global Facility is scheduled to mature on April 15, 2024, but the Operating
Partnership may, at its option and subject to payment of an extension fee,
extend the maturity date of the Global Facility for six months on two occasions
(to October 15, 2024 and April 15, 2025, respectively). Pricing under the Global
Facility, including the spread over the applicable LIBOR and the rates
applicable to facility fees and letter of credit fees, varies based upon the
public debt ratings of the Operating Partnership as in effect from time to time.
As of the closing date, the spread was 71.5 basis points. The Global Facility
contains customary representations, covenants (including certain financial tests
applicable to the Operating Partnership) and defaults (including a
cross-acceleration to other recourse indebtedness of more than $150,000,000).
The Operating Partnership has unconditionally guaranteed all obligations of each
other borrower under the Global Facility. Pursuant to the terms of the Global
Facility, Prologis, Inc. is not required to guarantee the obligations of the
borrowers under the Global Facility unless Prologis, Inc. incurs any
indebtedness that is not in existence as of the date of the Global Facility or
guarantees any indebtedness that is not guaranteed by Prologis, Inc. as of the
date of the Global Facility.
The Global Facility has been included herewith as Exhibit 10.1 and is
incorporated herein by reference.


Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

    . The following documents have been filed as exhibits to this report and are
    incorporated by reference herein as described above.



Exhibit
No.         Description

10.1          Global Senior Credit Agreement dated as of April 15, 2021 among
            Prologis, L.P., various affiliates of Prologis, L.P., various lenders
            and agents, and Bank of America, N.A., as Global Administrative Agent.


104         Cover Page Interactive Data File - the cover page iXBRL tags are
            embedded within the Inline XBRL document.

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