ProLogis Closes 13 Billion Yen ($157 Million) TMK Bond Financing
DENVER, March 31, 2011 /PRNewswire/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today that on March 17 it closed on a TMK bond secured financing totaling 13 billion yen ($157 million). Proceeds from the financing were used to pay down ProLogis' global line of credit. Tokutei Mokuteki Kaisha (TMK) is a tax-favored, special-purpose securitization vehicle that issues corporate bonds secured by real estate assets.
The bond has a seven-year maturity and was done with an existing lender of ProLogis. It is secured by ProLogis Parc Zama I, a 1.2 million-square-foot distribution facility located in Tokyo, Japan, that was completed in May 2009. Customers in the facility include Hitachi Transport Systems, Sumitomo Electric Industries, Hamakyorek Co. and Kawataki Corp.
ProLogis is the leading global provider of distribution facilities, with more than 435 million square feet of industrial space owned and managed (40 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 3,800 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to www.prologis.com.
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Released March 31, 2011