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Article: ProLogis Closes 4.26 Billion Yen $44.3 Million TMK Bond Financing.
- Article from:
- China Weekly News
- Article date:
- July 21, 2009
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ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced that it has completed a 4.26 billion yen ($44.3 million) TMK secured financing. The financing has a three-year maturity with loan-to-value of approximately 50 percent and is secured by ProLogis Parc Narashino III, a multi-tenant facility that is 100% leased and located in Tokyo, Japan. Tokutei Mokuteki Kaisha (TMK) is a tax favored, special purpose securitization vehicle that issues corporate bonds to its holders secured by real estate assets. Proceeds from this financing were used to pay down ProLogis' global lines of credit.
"This ...