ProLogis (PLD) To Offer 115M Shares
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ProLogis (NYSE: PLD) intends to offer 115 million common shares in a registered public offering. The company also plans to grant the underwriters a 30-day option to purchase up to 17.25 million additional shares to cover overallotments, if any.
Merrill Lynch & Co., Citi and Deutsche Bank Securities are acting as joint bookrunners for the proposed offering.
ProLogis intends to use the net proceeds from the sale of the common shares to reduce borrowings under its global line of credit and for general corporate purposes, including the repayment or repurchase of outstanding indebtedness. Certain of the joint bookrunners and their respective affiliates are lenders and agents under the global line of credit and will receive a portion of the proceeds of the offering.
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