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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 20, 2026
PROLOGIS,
INC.
PROLOGIS,
L.P.
(Exact name of registrant
as specified in charter)
| Maryland
(Prologis, Inc.) |
|
001-13545
(Prologis, Inc.) |
|
94-3281941
(Prologis, Inc.) |
| Delaware
(Prologis, L.P.) |
|
001-14245
(Prologis, L.P.) |
|
94-3285362
(Prologis, L.P.) |
(State
or other jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(I.R.S.
Employer Identification
No.) |
| Pier
1, Bay
1, San
Francisco, California |
|
94111 |
| (Address
of Principal Executive Offices) |
|
(Zip
Code) |
Registrants’ Telephone Number, including
Area Code: (415) 394-9000
N/A
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| |
|
Title
of Each Class |
|
Trading
Symbol(s) |
|
Name of Each Exchange on Which
Registered |
| Prologis, Inc. |
|
Common Stock, $0.01 par value |
|
PLD |
|
New York Stock Exchange |
| Prologis, L.P. |
|
2.250% Notes due 2029 |
|
PLD/29 |
|
New York Stock Exchange |
| Prologis, L.P. |
|
5.625% Notes due 2040 |
|
PLD/40 |
|
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
| Co-Registrant CIK |
0001045610 |
| Co-Registrant Amendment Flag |
false |
| Co-Registrant Form Type |
8-K |
| Co-Registrant DocumentPeriodEndDate |
2026-04-20 |
| Co-Registrant Written Communications |
false |
| Co-Registrant Solicitating Materials |
false |
| Co-Registrant PreCommencement Tender Offer |
false |
| Co-Registrant PreCommencement Issuer Tender Offer |
false |
| Co-Registrant Entity Emerging Growth Company |
false |
| Co-Registrant AddressLine1 |
Pier 1 |
| Co-Registrant AddressLine2 |
Bay 1 |
| Co-Registrant City |
San Francisco |
| Co-Registrant State |
California |
| Co-Registrant ZipCode |
94111 |
| Co-Registrant CityAreaCode |
415 |
| Co-Registrant LocalPhoneNumber |
394-9000 |
Item 2.03. Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.
Prologis, L.P. (the “Operating
Partnership”) expects that it will close the issuance and sale of the Notes (defined below) on April 23, 2026. The
information under Item 8.01 is incorporated herein by reference.
Item 8.01 Other Events.
On April 20, 2026, the Operating Partnership
priced an offering of $500,000,000 aggregate principal amount of its 4.250% Notes due 2031 (the “2031 Notes”) and $750,000,000
aggregate principal amount of its 4.900% Notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Notes”).
In connection with the offering, the Operating Partnership entered into an Underwriting Agreement, dated April 20, 2026 (the “Underwriting
Agreement”), with BofA Securities, Inc., HSBC Securities (USA) Inc., ING Financial Markets LLC, J.P. Morgan Securities
LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC, as representatives of the several underwriters named in Schedule A thereto
(the “Underwriters”), pursuant to which the Operating Partnership agreed to sell and the Underwriters agreed to purchase the
Notes, subject to and upon the terms and conditions set forth therein. A copy of the Underwriting Agreement has been filed as an exhibit
to this Current Report and is incorporated herein by reference.
The Notes are being issued under an indenture,
dated as of June 8, 2011 (the “Base Indenture”), among Prologis, Inc. (the “Parent”), the Operating
Partnership and U.S. Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association, as trustee,
as supplemented by the fifth supplemental indenture, dated as of August 15, 2013 (the Base Indenture, as supplemented by the fifth
supplemental indenture, the “Indenture”).
The net proceeds to the Operating Partnership from
the sale of the Notes, after the Underwriters’ discount and offering expenses, are estimated to be approximately $1.2 billion. The
Operating Partnership intends to use the net proceeds from the offering of the notes for general corporate purposes, including, but not
limited to, the repayment of borrowings under its commercial paper program and possibly other debt.
The 2031
Notes will bear interest at a rate of 4.250% per annum and mature on June 15, 2031. The 2036 Notes will bear interest at a rate of
4.900% per annum and mature on June 15, 2036. The Notes will be senior unsecured obligations of the Operating Partnership.
The 2031 Notes and the 2036 Notes will be redeemable
in whole at any time or in part from time to time, at the option of the Operating Partnership, at a redemption price equal to the greater
of: (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled
payments of principal and interest on the Notes to be redeemed that would be due if such Notes matured on May 15, 2031, in the case
of the 2031 Notes, or March 15, 2036, in the case of the 2036 Notes (each, the “Applicable Par Call Date” as to the applicable
series of Notes) (in each case exclusive of interest accrued to the redemption date), discounted to the redemption date, on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury Rate plus 10 basis points, in the case
of the 2031 Notes, and 15 basis points, in the case of the 2036 Notes. In addition, on or after the Applicable Par Call Date, each series
of Notes will be redeemable in whole at any time or in part from time to time, at the Operating Partnership’s option, at a redemption
price equal to 100% of the principal amount of the applicable series of Notes to be redeemed. In each case, accrued and unpaid interest,
if any, will be paid on the Notes being redeemed to, but excluding, the redemption date.
The Indenture governing the Notes restricts, among
other things, the Operating Partnership’s and its subsidiaries’ ability to incur additional indebtedness and to merge or consolidate
with any other person or sell, assign, transfer, lease, convey or otherwise dispose of substantially all of its assets.
The Notes are being issued pursuant to the Registration
Statement (File No. 333-289636) that the Operating Partnership, the Parent and certain of their wholly-owned subsidiaries filed with
the Securities and Exchange Commission (the “SEC”) relating to the public offering from time to time of securities of the
Operating Partnership, the Parent and certain of their wholly-owned subsidiaries pursuant to Rule 415 of the Securities Act of 1933,
as amended. In connection with filing with the SEC a definitive prospectus supplement, dated April 20, 2026, and base prospectus,
dated August 15, 2025, relating to the public offering of the Notes, the Operating Partnership is filing the Underwriting Agreement,
the form of the Notes and certain other exhibits with this Current Report on Form 8-K as exhibits to such Registration Statement.
See “Item 9.01 – Financial Statements and Exhibits.”
This Current Report does not constitute an offer
to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following
documents have been filed as exhibits to this report and are incorporated by reference herein as described above.
| Exhibit No. | |
Description |
| 1.1 | |
Underwriting Agreement, dated April 20, 2026, between Prologis, L.P., BofA Securities, Inc., HSBC Securities (USA) Inc., ING Financial Markets LLC, J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC, as representatives of the several underwriters named in Schedule A thereto. |
| 4.1 | |
Form of Officers’ Certificate related to the 4.250% Notes due 2031. |
| 4.2 | |
Form of 4.250% Notes due 2031. |
| 4.3 | |
Form of Officers’ Certificate related to the 4.900% Notes due 2036. |
| 4.4 | |
Form of 4.900% Notes due 2036. |
| 5.1 | |
Opinion of Mayer Brown LLP. |
| 23.1 | |
Consent of Mayer Brown LLP (included in Exhibit 5.1). |
| 104 | |
Cover Page Interactive Data File – the cover page iXBRL tags are embedded within the Inline XBRL document. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
PROLOGIS, INC. |
| |
|
|
| Date: April 23, 2026 |
By: |
/s/ David Malinger |
| |
|
Name: David Malinger |
| |
|
Title: Senior Vice President and Assistant Secretary |
| |
PROLOGIS, L.P. |
| |
By: Prologis, Inc., |
| |
its General Partner |
| |
|
|
| Date: April 23, 2026 |
By: |
/s/ David Malinger |
|
|
Name: David Malinger |
| |
|
Title: Senior Vice President and Assistant Secretary |
