Prologis, L.P.

$2bn committed across 1 active facility, next covenant test Sep 30, 2026.

Real Estate

Recent changes

  1. Mar 31, 2026Prologis, L.P. signs $2bn SECOND AMENDED AND RESTATED GLOBAL SENIOR CREDIT AGREEMENT, matures Jun 2030SEC ↗
Tested quarterlyHeadroom not yet measured0.60x
Prologis shall not permit the Consolidated Leverage Ratio, as of the last day of any fiscal quarter, to exceed 0.60 to 1.0; provided that as of the last day of the four consecutive fiscal quarters immediately following any acquisition of real property or a portfolio of assets or businesses, such ratio may exceed 0.60 to 1.0 so long as it does not exceed 0.65 to 1.0.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured1.50x
Prologis shall not permit the Fixed Charge Coverage Ratio, as of the last day of any fiscal quarter, to be less than 1.50 to 1.0.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured1.50
Prologis shall not permit the Unencumbered Debt Service Coverage Ratio, as of the last day of any fiscal quarter, to be less than 1.50 to 1.0.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured0.40x
Prologis shall not permit the ratio (expressed as a percentage) of (a) the aggregate amount of all Secured Debt of the Companies outstanding as of the last day of any fiscal quarter to (b) Total Asset Value as of such date to exceed 40%.
Read the filing on sec.gov ↗

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SECOND AMENDED AND RESTATED GLOBAL SENIOR CREDIT AGREEMENT

Signed Mar 26, 2026

Committed
$2bn
Matures
Jun 2030
Agent
Bank of America, N.A.
TrancheSizeMaturesMargin
U.S. Tranche Revolving Facility$2bnJun 203063–135 bps
Euro Tranche Revolving FacilityEUR n/aJun 203063–135 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level Less than Baa3/BBB-Less than Baa3 or BBB- (or not rated)135 bps30 bps
Level Baa3/BBB-Baa3 / BBB-100 bps25 bps
Level Baa2/BBBBaa2 / BBB80 bps20 bps
Level Baa1/BBB+Baa1 / BBB+73 bps15 bps
Level A3/A-A3 / A-68 bps13 bps
Level A2/AA2 / A65 bps10 bps
Level A1 or better/A+ or betterA1 or better / A+ or better63 bps10 bps

Lenders: BofA Securities, Inc., JPMorgan Chase Bank, N.A., Citibank, N.A., U.S. Bank National Association, PNC Capital Markets LLC, Sumitomo Mitsui Banking Corporation

No amendments on file yet.

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