ProLogis has completed a five-year secured bank loan facility with Helaba for about €48m. According to a recent press release, the loan will be split into two tranches and used to refinance outstanding debt. The facility is secured by a portfolio of distribution properties in Sweden, the first time ProLogis has used Swedish assets for specific financing.
“This transaction is a further step in achieving our ambition to reduce short-term debt maturities, create a balanced maturity profile and decrease overall balance sheet risk. We continue to make good progress with our refinancing plans, with a further €600m of new financing under active discussion.” — Peter Cassells, CEO, ProLogis