Company: PLDGP
Filing Date: 2025-05-23
Form Type: 8-K
Source: 0001193125-25-125882
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Company: Prologis, Inc.
Filing Date: 2025-05-23
Form: 8-K
Item: Item 2.03
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Item 2.03.      Creation of a Direct Financial Obligation or an Obligation under an  

On May 22, 2025, Prologis, L. P., a Delaware limited partnership (the “ Operating Partnership”), and various affiliates of the Operating Partnership entered into an Amended and Restated Global Senior Credit Agreement (the “2025 Global Facility”) with various lenders and agents, and Bank of America, N. A., as Global Administrative Agent, which amends and restates the Global Senior Credit Agreement dated as of June 30, 2022 among the Operating Partnership, various affiliates of the Operating Partnership, the various agents and lenders party thereto, and Bank of America, N. A., as Global Administrative Agent. Pursuant to the 2025 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 $3,000,000,000 (subject to increase by not more than the U. S. Dollar equivalent of $1,000,000,000 (determined as of the effective date of such increase) pursuant to the accordion feature included in the 2025 Global Facility). As of the closing date, the 2025 Global Facility has two tranches: (i) a U. S. Dollar Tranche in the amount of $2,000,000,000 and (ii) a Euro Tranche in the amount of €895,736,295.23.

The 2025 Global Facility is scheduled to mature on June 29, 2029, but the Operating Partnership may, at its option and subject to payment of an extension fee, extend the maturity date of the 2025 Global Facility for six months on two occasions (to December 28, 2029 and June 28, 2030, respectively). Pricing under the 2025 Global Facility, including the spread over the applicable benchmark rate 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 69 basis points. The 2025 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,