Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 508

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 508
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225

        979

        1,538

        Commercial paper borrowings outstanding (1)

        -

        -

        -

        Outstanding letters of credit

        25

        24

        38

        Current availability
         
        $
        6,063

        $
        5,474

        $
        3,865

        Cash and cash equivalents

        1,319

        530

        278

        Total liquidity
         
        $
        7,382

        $
        6,004

        $
        4,143

       (1)We are required to maintain available commitments under our Credit Facilities in an amount at least equal to the commercial paper borrowings outstanding. Commercial Paper In March 2024, we established a program under which we may issue, repay and re-issue short-term unsecured commercial paper notes denominated in U.S. dollars. The aggregate principal amount of notes outstanding under the commercial paper program at any time cannot exceed $1.0 billion and the net proceeds of the notes are expected to be used for general corporate purposes. The maturities of the notes generally range from overnight to three months. The notes are issued under customary terms in the commercial paper market and are issued at a discount from par or, alternatively, can be issued at par and bear varying interest rates on a fixed or floating basis. At any point in time, we are required to maintain available commitments under our Credit Facilities in an amount at least equal to the amount of the notes outstanding. 

80

 Senior Notes The senior notes are unsecured and our obligations are effectively subordinated in certain respects to any of our debt that is secured by a lien on real property, to the extent of the value of such real property. The senior notes require interest payments be made quarterly, semi-annually or annually. The majority of the senior notes are redeemable at any time at our option, subject to certain prepayment penalties. Such repurchase and other terms are governed by the provisions of indenture agreements, various note purchase agreements or trust deeds. The following table summarizes the issuances of senior notes during 2024 (principal in thousands): 

        Aggregate Principal

        Issuance Date Weighted Average

        Issuance Date

        Borrowing Currency

        USD (1)

        Interest Rate
         
        Years
         
        Maturity Dates

        January
         
        $
         
        1,