Prologis Raises Green Bond for Prologis European Logistics Fund
Posted on 07/10/2019
Global logistics specialist Prologis raised a further €450 million for the open-ended vehicle Prologis European Logistics Fund (PELF). Prologis raised this capital through a green bond issue. The green bond has a 0.875% annual interest rate due 2029. This is PELF’s third bond issuance. In 2018, Prologis raised two green bonds at €300 million a clip.
Prologis plans to use the bond proceeds for water-saving initiatives, renewable energy projects, and other measures.
PELF was formed for owning and operating core industrial distribution properties across Europe.