Debt (Tables)

6 Months Ended

Jun. 30, 2014

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


	June 30, 2014					December 31, 2013
	Weighted Average Interest Rate (1)			Amount Outstanding (2)		Weighted Average Interest Rate (1)			Amount Outstanding
Credit Facilities		1.1	%	$	38,673		1.2	%	$	725,483
Senior notes		4.0	%		6,119,885		4.5	%		5,357,933
Exchangeable senior notes		3.3	%		447,321		3.3	%		438,481
Secured mortgage debt		5.8	%		1,271,546		5.6	%		1,696,597
Secured mortgage debt of consolidated entities		3.9	%		26,804		4.7	%		239,992
Term loans		1.2	%		608,533		1.7	%		535,908
Other debt		6.2	%		16,691		6.2	%		16,822

Totals		4.0	%	$	8,529,453		4.2	%	$	9,011,216

(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. currency, principally: euro ($2.8 billion) and Japanese yen ($0.6 billion).

Credit Facilities

Commitments and availability under our Credit Facilities as of June 30, 2014, were as follows (in millions):


Aggregate lender - commitments	$	2,976.3
Less:
Borrowings outstanding		38.7
Outstanding letters of credit		49.3

Current availability	$	2,888.3

Long-Term Debt Maturities

Principal payments due on our debt, for the remainder of 2014 and for each of the years in the ten-year period ending December 31, 2023, and thereafter were as follows at June 30, 2014 (in millions):


	Prologis
	Unsecured										Secured				Consolidated		Total
	Senior			Exchangeable			Credit		Other		Mortgage				Entities’		Consolidated
Maturity	Debt			Notes			Facilities		Debt		Debt		Total		Debt		Debt
2014(1)	$	—		$	—		$	—	$	1	$	22	$	23	$	2	$	25
2015(2)		—			460			—		1		123		584		4		588
2016		—			—			—		1		325		326		4		330
2017(3)		438			—			39		206		226		909		1		910
2018		667			—			—		1		110		778		2		780
2019		694			—			—		—		285		979		2		981
2020		382			—			—		1		6		389		2		391
2021		500			—			—		404		6		910		2		912
2022		956			—			—		—		7		963		3		966
2023		850			—			—		—		7		857		1		858
Thereafter		1,639			—			—		10		130		1,779		4		1,783

Subtotal		6,126			460			39		625		1,247		8,497		27		8,524
Unamortized premiums (discounts), net		(7	)		(13	)		—		—		25		5		—		5

Total	$	6,119		$	447		$	39	$	625	$	1,272	$	8,502	$	27	$	8,529

(1)	We expect to repay the amounts maturing in 2014 with cash generated from operations, proceeds from the disposition of real estate properties and with borrowings on our Credit Facilities.

(2)	The exchangeable notes mature in March 2015 and may be exchanged at an initial conversion rate of 25.8244 per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $38.72 per share.

(3)	Included in the 2017 maturities in Credit Facilities is our Global Facility and in other debt is the Euro Term Loan that can be extended until 2018 and 2019, respectively.