Prologis, the New York-listed global developer of distribution facilities, has launched a tender offer to buy back up to $500 mln (EUR 366 mln) worth of loan notes due for repayment on 15 November 2010. The notes carry an interest of 5.25% and Prologis is offering to buy them back for 70% of the face value plus accrued and unpaid interest to date.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
