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Nippon Prologis REIT prices investment units

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Nippon Prologis REIT prices investment units

Nippon Prologis REIT Inc. priced its investment units in its domestic and international placement at ¥222,460 apiece, including the overallotment option, Prologis Inc. said in a release.

The offering comprises 35,420 units in a domestic placement and 28,980 units in an international placement.

The net proceeds from the issuance, previously estimated to be ¥13.7 billion, will be used to repay bridge loans that were used to finance the acquisition of three class A properties for roughly ¥30.6 billion.

The issuance is expected to close Dec. 19 in Japan.

As of Dec. 9, US$1 was equivalent to ¥115.18.