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ProLogis European Properties receives €440.9 million
of funding from new secured financings
ProLogis European Properties (Euronext: PEPR), one of
Europe’s largest owners of modern distribution facilities, announced today that it has finalised three
new four-year secured financings and received funding totalling €440.9 million. The three facilities
have a blended coupon of 4.93%. Net proceeds will be used to refinance outstanding debt.
The first and largest facility is a €300 million pan-European syndicated loan with six European
lenders arranged by Goldman Sachs as sole arranger. The syndicate includes Deutsche
Pfandbriefbank AG (as Facility and Security Agent), AXA, BAWAG P.S.K., Credit Foncier de
France, M&G Investments and ING Real Estate Finance. The loan has a loan-to-value of
approximately 52% and is secured by a portfolio of 39 properties located in four European
countries. The loan will mature in January 2014.
The second facility is a €74.0 million loan, split into two tranches, with Berlin Hyp a new lender for
PEPR. The first tranche of €48.3 million was received on 28 December 2009 with the remaining
€25.7 million received this week. The loan is secured by a portfolio of 17 German and Polish assets,
has a loan-to-value of approximately 50% and will mature in January 2014.
The final facility is a €74.5 million loan, of which €66.9 million has been received and a further €7.6
million committed, with Deutsche Pfandbriefbank AG, a repeat lender for PEPR. The €66.9 million
tranche has a loan-to-value of approximately 55%, is secured by a portfolio of nine French and UK
assets and will mature in December 2013.
David Doyle, chief financial officer of PEPR said: “We are pleased to have completed these new
financings, with the syndicated loan being one of the largest Pan-European syndicated real estate
loans issued since 2008. These transactions demonstrate our continued access to the capital
markets, having completed over €802 million of new or extended debt facilities in the past year. Net
proceeds combined with our other deleveraging initiatives finalised in 2009 will enable us to reduce
outstanding debt substantially. Our unrelenting focus on addressing 2010 debt maturities and the
absence of debt maturing until the end of 2012 leaves PEPR well positioned for the future.”
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February 2010 - Deutsche Messe postpones premiere of industrial tradeshows in Dubai until 2011
Deutsche Messe is postponing the industrial trade fairs CeMAT MIDDLE EAST, Industrial Automation (IA) MIDDLE EAST and Motion, Drive & Automation (MDA) MIDDLE EAST – all originally schedu led to take place in February 2010 – until 2011.
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March 2010 - Stuttgart, 2nd - 4th March
From 2 to 4 March 2010 LogiMAT, the International Trade Fair for Distribution, Materials Handling and Information Flow, is taking place in Stuttgart accompanied by an extensive fringe programme. It is the eighth edition of this annual meeting point for the intralogistics industry – the largest in Europe.
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March 2010 - France, 23rd - 26th
Transport and Logistics services, Supply chain Management, Logistics Infrastructures, Logistics Real Estate, Technologies and Information Systems, Materials Handling and Warehouse equipment…
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April 2010 - Cleveland, 26th - 29th
NA 2010 (The 2010 Material Handling & Logistics Show and Conference) will bring together manufacturers, consultants, third party logistics providers, publishers and system integrators to demonstrate their equipment, systems and services to tens of thousands of industry professionals from around the world, seeking productivity solutions.
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May 2010 - Barcelona, 25th - 28th
Barcelona, 23 November 2009. As part of its constant desire to improve the service it offers exhibitors and visitors as well as provide a bigger and better service, the International Logistics and Material Handling Exhibition (SIL) has updated its website.
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June 2010 - Guangzhou, China, 2nd - 4th
In China, cold chain logistics industry is in its infancy, While cold chain market share on both sides of the Atlantic has already reached 80 - 90%-that in Europe and Russia is 50%, in developing countries in general is 10 - 20%-only 20% of freight moving in China goes refrigerated.
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November 2010 - Eindhoven, 10th - 11th
It is with justified pride that Bureau Bosman BV is introducing Groothandel & Logistiek’s new trade show name. From now on, Groothandel & Logistiek will be called: Bedrijf en Logistiek, the trade show for goods-in, storage and goods-out. The eleventh edition will take place on November 10 and 11 in the Exhibition Building in Eindhoven.
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November 2010 - Birmingham, 16th - 19th
Quartz Publishing & Exhibitions Ltd, organiser of the International Materials Handling Exhibition (IMHX), has announced that – in response to exhibitor requests – the show’s dates have moved from March to November next year.
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The Armchair Shoppers
Home shopping and multi-channel
retailing is an industry where the
customer often seems tantalisingly
elusive. That’s why, every year since
2000, the UK’s Royal Mail has
commissioned the ‘Home Shopping
Tracker Study’ to estimate the size
of the UK market, both in terms of
customers and spend.
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Norway’s first gateway
The Norwegian port of Oslo has long
been a focal point for the country’s
trade, industry and population.
Boasting a highly-agile and skilled
logistics labour force the Port is on
the cusp of a new era with major
expansion and improvement.
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A heartland pours open
Ideally located at the heart of western
Europe, the Moselle Department,
in the Lorraine region of France,
offers many advantages to companies
wishing to have a strategically located
distribution platform.
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Movement made easy
Elsewhere in the world of material handling
expertise the Dutch logistics service provider
Partner Logistics Europe B.V. has been busy
in West Flanders. The company recently put
into operation probably the largest ‘deep
freeze chest’ in Belgium.
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Forklift manufacturers react to energy crisis
“Thanks to their inherent high build quality
Flexis are straightforward to maintain and
our distributors are able to make healthy
margins on used Flexis that they put back
into the market on contract hire with
maintenance packages.”
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Legislation set to change
Highly automated warehouses
make strict demands on personnel
safety. Jarno Palo, of safety specialist
Gunnebo Troax AB believes that
health and safety legislation and
European norms, such as the
Machinery Directive, have a huge
influence in the hub, covering
everything from conveyors to cranes
and industrial robots.
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