PEPR closes on ?97.5 million equity raise
(Thomson Reuters ONE) -
News release
PEPR closes on ?97.5 million equity raise
Luxembourg - 7 September 2011 - ProLogis European Properties (Euronext: PEPR),
one of Europe's largest owners of modern distribution facilities, announced
today that it has completed the offer of ?97.5 million of new Ordinary Units,
launched on 29 August 2011. PEPR intends to use net proceeds from the offering
to reduce outstanding debt.
As a result of the offer, Moody's Investors Service upgraded PEPR's corporate
credit rating to Baa3, with stable outlook, from Ba1 positive outlook. The
investment grade credit rating will reduce PEPR's annual interest expense by at
least ?8.6 million and provides improved access to capital markets.
15,724,999 new Ordinary Units were issued at ?6.20 per unit, a price which is
equal to the recent tender offer price and a 10.1% premium to PEPR's IFRS net
asset value per ordinary unit as at 30 June 2011. It is expected that the new
Ordinary Units will commence trading on the regulated market of the Luxembourg
Stock Exchange and on Euronext Amsterdam from tomorrow, Thursday 8 September.
Following completion of the offer, PEPR has 206,247,440 Ordinary Units in issue.
-Ends-
For further information, please contact:
Investor relations
Jennifer Crooke
+44 207 518 8708
jcrooke(at)prologis.com
Media
M:Communications
Charlotte McMullen
+44 20 7920 2349
mcmullen(at)mcomgroup.com
About ProLogis European Properties (PEPR)
ProLogis European Properties, or PEPR, is one of the largest pan-European owners
of high quality distribution and logistics facilities. PEPR was established in
1999 as a closed-end, real estate investment fund, externally managed by a
subsidiary of Prologis, Inc. (NYSE: PLD), a leading global provider of
industrial distribution facilities. In September 2006, PEPR was listed on
Euronext Amsterdam.
As at 30 June 2011, PEPR has a portfolio of 232 buildings, covering 4.9 million
square metres in 11 European countries, with a market value of ?2.8 billion. The
portfolio has an occupancy level of 93.2% and an average of 3.3 years to the
next lease break or 5.2 years to lease expiry.
Notice
This document does not constitute an offer to sell, or the solicitation of an
offer to acquire or subscribe for, securities of PEPR.
The securities of PEPR have not been and will not be registered under the US
Securities Act of 1933, as amended (the "Securities Act"). Accordingly, the
securities of PEPR may not be offered or sold in the United States absent
registration or an applicable exemption from registration under the Securities
Act. No public offering of the securities of PEPR is being made in the United
States.
No communication or information relating to any offer or sale of securities of
PEPR may be disseminated to the public in jurisdictions where prior registration
or approval is required for that purpose.
The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in such
jurisdictions into which this announcement is released, published or
distributed, should inform themselves about, and observe such restrictions.
This announcement does not constitute a prospectus. Any offer to acquire
securities pursuant to a proposed offering will be made, and any investor to
whom the offering will be made should make his investment, solely on the basis
of information that is contained in the supplement to the prospectus.
PEPR closes on ?97.5 million equity raise:
http://hugin.info/139145/R/1544513/473366.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ProLogis European Properties via Thomson Reuters ONE
[HUG#1544513]
Unternehmensinformation / Kurzprofil:
Datum: 07.09.2011 - 09:00 Uhr
Sprache: Deutsch
News-ID 62866
Anzahl Zeichen: 4674
contact information:
Town:
Luxembourg
Kategorie:
Business News
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