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Debt (Tables)
 9 Months Ended
Sep. 30, 2015
Debt Disclosure [Abstract]  
Debt Summary

The following table summarizes our debt (dollars in thousands):

 

 

 

September 30, 2015

 

 

December 31, 2014

 

 

 

Weighted Average Interest Rate (1)

 

 

Amount Outstanding (2)

 

 

Weighted Average Interest Rate (1)

 

 

Amount Outstanding

 

Credit facilities

 

 

1.2

%

 

$

207,978

 

 

 

-

 

 

$

-

 

Senior notes

 

 

3.3

%

 

 

6,622,440

 

 

 

3.6

%

 

 

6,076,920

 

Exchangeable senior notes

 

 

-

 

 

 

-

 

 

 

3.3

%

 

 

456,766

 

Term loans

 

 

1.4

%

 

 

2,442,848

 

 

 

1.3

%

 

 

572,730

 

Other debt

 

 

6.2

%

 

 

15,648

 

 

 

6.2

%

 

 

16,086

 

Secured mortgage debt

 

 

6.4

%

 

 

785,480

 

 

 

6.1

%

 

 

1,050,591

 

Secured mortgage debt of consolidated entities

 

 

2.7

%

 

 

1,859,961

 

 

 

2.5

%

 

 

1,207,106

 

Totals

 

 

3.0

%

 

$

11,934,355

 

 

 

3.6

%

 

$

9,380,199

 

 

(1)

The interest rates presented represent the effective interest rates (including amortization of the noncash premiums or discounts).

 

(2)

Included in the outstanding balances are borrowings denominated in non-U.S. currency, principally: euro ($3.6 billion) and Japanese yen ($1.0 billion).

 
Credit Facilities

The following table summarizes information about our Credit Facilities at September 30, 2015 (in millions):

 

 

 

 

 

 

Aggregate lender commitments

 

$

2,682

 

Less:

 

 

 

 

Borrowings outstanding

 

 

208

 

Outstanding letters of credit

 

 

31

 

Current availability

 

$

2,443

 

 
Long-Term Debt Maturities

Principal payments due on our debt, for the remainder of 2015 and for each of the years in the period ending December 31, 2024, and thereafter were as follows at September 30, 2015 (in millions):

 

 

Prologis

 

 

 

 

 

 

 

 

 

 

Unsecured

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit

 

 

Senior

 

 

Term Loans and

 

 

Secured Mortgage

 

 

 

 

 

 

Consolidated Entities’

 

 

Total Consolidated

 

Maturity

 

Facilities

 

 

Notes

 

 

Other Debt

 

 

Debt

 

 

Total

 

 

Debt

 

 

Debt

 

2015 (1)

 

$

-

 

 

$

-

 

 

$

-

 

 

$

15

 

 

$

15

 

 

$

3

 

 

$

18

 

2016 (1) (2)

 

 

-

 

 

 

-

 

 

 

1,001

 

 

 

199

 

 

 

1,200

 

 

 

455

 

 

 

1,655

 

2017 (3)

 

 

197

 

 

 

377

 

 

 

563

 

 

 

6

 

 

 

1,143

 

 

 

516

 

 

 

1,659

 

2018

 

 

11

 

 

 

262

 

 

 

1

 

 

 

112

 

 

 

386

 

 

 

403

 

 

 

789

 

2019

 

 

-

 

 

 

693

 

 

 

1

 

 

 

285

 

 

 

979

 

 

 

143

 

 

 

1,122

 

2020

 

 

-

 

 

 

1,040

 

 

 

1

 

 

 

6

 

 

 

1,047

 

 

 

252

 

 

 

1,299

 

2021

 

 

-

 

 

 

1,284

 

 

 

341

 

 

 

11

 

 

 

1,636

 

 

 

1

 

 

 

1,637

 

2022

 

 

-

 

 

 

784

 

 

 

542

 

 

 

7

 

 

 

1,333

 

 

 

1

 

 

 

1,334

 

2023

 

 

-

 

 

 

850

 

 

 

1

 

 

 

7

 

 

 

858

 

 

 

1

 

 

 

859

 

2024

 

 

-

 

 

 

784

 

 

 

1

 

 

 

129

 

 

 

914

 

 

 

1

 

 

 

915

 

Thereafter

 

 

-

 

 

 

560

 

 

 

7

 

 

 

-

 

 

 

567

 

 

 

3

 

 

 

570

 

Subtotal

 

 

208

 

 

 

6,634

 

 

 

2,459

 

 

 

777

 

 

 

10,078

 

 

 

1,779

 

 

 

11,857

 

Unamortized premiums (discounts), net

 

 

-

 

 

 

(12

)

 

 

-

 

 

 

8

 

 

 

(4

)

 

 

81

 

 

 

77

 

Totals

 

$

208

 

 

$

6,622

 

 

$

2,459

 

 

$

785

 

 

$

10,074

 

 

$

1,860

 

 

$

11,934

 

 

(1)

We expect to repay the amounts maturing in 2015 and 2016 related to our wholly owned debt with cash generated from operations, proceeds from the disposition of wholly owned real estate properties, or as necessary, with borrowings on our Credit Facilities.

 

(2)

Included in our debt is a Senior Term Loan that can be extended until 2017.

 

(3)

Included in our debt is a Global Facility that can be extended until 2018 and a term loan that can be extended until 2019.