Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 238

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 238
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 The 2022 Global Facility is scheduled to initially mature in June 2026 and the 2023 Global Facility in June 2027; however, we can extend the maturity date for each facility by six months on two occasions, subject to 

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the payment of extension fees. We also have the ability to increase each credit facility to $4.0 billion, subject to currency fluctuations and obtaining additional lender commitments. We also have a Japanese yen revolver (the "Yen Credit Facility") with a borrowing capacity of ¥58.5 billion ($372.7 million at December 31, 2024). We have the ability to increase the borrowing capacity of the Yen Credit Facility to ¥75.0 billion ($477.8 million at December 31, 2024), subject to obtaining additional lender commitments. The Yen Credit Facility is scheduled to initially mature in August 2027; however, we may extend the maturity date for one year, subject to the payment of extension fees.  We refer to the 2022 Global Facility, the 2023 Global Facility and the Yen Credit Facility, collectively, as our “Credit Facilities.” Pricing for the Credit Facilities, including the spread over the applicable benchmark and the rates applicable to facility fees and letter of credit fees, varies based on the public debt ratings of the OP. Our Credit Facilities are utilized to support our cash needs for development and acquisition activities on a short-term basis. The maturities of the borrowings under the Credit Facilities generally range from overnight to three months. The following table summarizes information about our Credit Facility activity and available liquidity (dollars in millions):  

        2024

        2023

        2022

        Credit Facility activity for the years ended December 31:

        Weighted average daily interest rate

        4.4
        %

        4.3
        %

        1.7
        %

        Weighted average daily borrowings
         
        $
        519

        $
        411

        $
        519

        Maximum borrowings outstanding at any month-end
         
        $
        1,031

        $
        1,587

        $
        1,538

        Available liquidity at December 31:

        Aggregate lender commitments

        Credit Facilities
         
        $
        6,313

        $
        6,477

        $
        5,441

        Less:

        Credit facility borrowings outstanding