March 21, 2010 (FinancialWire) — ProLogis (NYSE: PLD), a provider of distribution facilities, has closed its offering of fixed-rate and convertible senior notes priced on March 9, 2010. Additionally, on March 12, the underwriters exercised their $60 million over-allotment option, bringing the company's convertible senior note issuance to $460 million.

Combined with $1.1 billion of the seven- and ten-year notes, the company has closed on net proceeds of $1.54 billion of senior notes.

company CFO William E. Sullivan said, "These new debt issuances and the tender offer that closed Monday go a long way toward addressing ProLogis' goal of further smoothing debt maturities."

Together, the tender offer and repurchase of convertible senior notes year to date will result in a charge of around $46 million in the first quarter of 2010. Although the company's 2012 and 2013 convertible notes have been reduced by $490 million, the related charge is based upon the recorded debt balance, which is net of the remaining debt discount and issuance costs.

Colorado-based ProLogis has more than 475 million square feet of industrial space in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs.

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