Prologis, L.P. 8-K

What Happened

• Prologis, L.P. (the “Operating Partnership”) filed an 8-K reporting the creation of a direct financial obligation and other events relating to a debt offering. On April 20, 2026 the Operating Partnership priced C$850,000,000 aggregate principal of 4.250% senior unsecured notes due May 15, 2034 (the “Notes”), and it expects to close the sale on April 27, 2026. The Underwriting Agreement (dated April 20, 2026) was with Scotia Capital Inc. and TD Securities Inc.; an Officers’ Certificate dated April 27, 2026 establishes the Notes’ terms. The Notes are issued under the Operating Partnership’s existing indenture and registration statement (File No. 333-289636).

Key Details

• Amount and rate: C$850,000,000 principal; interest rate 4.250% per annum; maturity May 15, 2034.
• Net proceeds: estimated at approximately C$839.9 million after underwriting discount and offering expenses.
• Use of proceeds: for general corporate purposes, which may include repaying borrowings under global lines of credit, a Canadian dollar term loan and possibly other debt.
• Redemption and covenants: redeemable prior to Feb 15, 2034 (Par Call Date) at the greater of 100% or a present value calculation (discount = Government of Canada yield + 25.5 bps); redeemable at 100% on/after Par Call Date; the indenture imposes restrictions on incurrence of additional indebtedness and on mergers/consolidations or dispositions of substantially all assets.

Why It Matters

• This filing documents a material new debt issuance that affects Prologis’s capital structure and maturity profile: C$850M of senior unsecured obligations maturing in 2034.
• Net proceeds will likely be used to refinance existing borrowings, which can change interest expense, liquidity and currency exposure (notes are denominated in Canadian dollars).
• The notes’ senior unsecured status and indenture restrictions are important for creditor priority and for limits on the company’s future financing or corporate transactions. Investors should note the interest rate, maturity, redemption mechanics and estimated net proceeds when assessing balance-sheet and cash‑flow impacts.