Debt (Tables)

3 Months Ended

Mar. 31, 2013

Debt Summary

Our debt consisted of the following (dollars in thousands):

	March 31, 2013					December 31, 2012
	Weighted Average Interest Rate (1)			Amount Outstanding (2)		Weighted Average Interest Rate (1)			Amount Outstanding
Credit Facilities		1.5	%	$	421,248		1.5	%	$	888,966
Senior notes		5.6	%		4,992,836		5.6	%		5,223,136
Exchangeable senior notes (3)		4.4	%		738,066		4.6	%		876,884
Secured mortgage debt (4)		5.2	%		1,875,502		4.0	%		3,625,908
Secured mortgage debt of consolidated entities		4.3	%		438,915		4.4	%		450,923
Other debt of consolidated entities		4.8	%		64,392		4.8	%		67,749
Other debt		1.8	%		543,164		1.8	%		657,228
Totals		4.9	%	$	9,074,123		4.4	%	$	11,790,794

(1) The interest rates presented represent the effective interest rates (including amortization of the non-cash premiums or discount).

(2) Included in the outstanding balances are borrowings denominated in non-U.S. dollars: euro ($973 million) and Japanese yen ($816 million).

(3) The weighted average coupon interest rate was 3.0% and 2.8% as of March 31, 2013 and December 31, 2012, respectively.

(4) In the first quarter of 2013, we repaid $1.4 billion of outstanding secured mortgage debt with the proceeds received from contributions of properties to PELP and NPR. In addition, we transferred $353.2 million of debt to PELP in connection with the contribution.

Credit Facilities

Commitments and availability under our Credit Facilities as of March 31, 2013 were as follows (dollars in millions):

Aggregate lender - commitments	$	2,033.9
Less:
Borrowings outstanding		421.2
Outstanding letters of credit		67.5
Current availability	$	1,545.2

Long-Term Debt Maturities

Principal payments due on our debt, for the remainder of 2013 and for each of the years in the ten-year period ending December 31, 2022 and thereafter was as follows (in millions):

	Prologis
	Unsecured									Secured Mortgage Debt		Total		Consolidated Entities’ Debt (1)		Total Consolidated Debt
	Senior		Exchangeable			Credit		Other
Maturity	Debt		Notes			Facilities		Debt
2013(2)(3)	$	299	$	342		$	—	$	—	$	42	$	683	$	117	$	800
2014		895		—			383		526		427		2,231		79		2,310
2015(3)		175		460			38		1		122		796		51		847
2016		640		—			—		1		310		951		129		1,080
2017		700		—			—		1		229		930		39		969
2018		900		—			—		1		113		1,014		73		1,087
2019		647		—			—		1		296		944		2		946
2020		667		—			—		1		9		677		2		679
2021		—		—			—		1		140		141		2		143
2022		—		—			—		—		7		7		2		9
Thereafter		—		—			—		10		137		147		6		153
Subtotal		4,923		802			421		543		1,832		8,521		502		9,023
Unamortized premiums (discounts), net		70		(64	)		—		—		43		49		2		51
Total	$	4,993	$	738		$	421	$	543	$	1,875	$	8,570	$	504	$	9,074

(1) Our consolidated entities have $17.6 million available to borrow under credit facilities.

(2) We expect to repay the amounts maturing in 2013 related to our wholly owned debt with the proceeds from an equity issuance, property dispositions and cash on hand (See Note 15 for more information on the equity issuance we completed in April 2013). The maturities in 2013 in our consolidated but not wholly owned subsidiaries principally include $64.4 million of unsecured credit facilities and $34.7 million of secured mortgage debt, which we expect to extend, or pay, through the issuance of new debt, with proceeds from asset sales, available cash, or equity contributions to our consolidated entities by us and our venture partners.

(3) The maturities in 2013 and 2015 include the aggregate principal amounts of the exchangeable senior notes, as this is when the holders first have the right to require us to repurchase their notes for cash.