Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 50

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 16
Chunk 50
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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

        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

        $