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Debt (Tables)
 6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Debt Summary

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

 

 

 

June 30, 2016

 

 

December 31, 2015

 

 

 

Weighted Average Interest Rate (1)

 

 

Amount Outstanding (2)

 

 

Weighted Average Interest Rate (1)

 

 

Amount Outstanding

 

Credit facilities

 

 

-

 

 

$

-

 

 

 

-

 

 

$

-

 

Senior notes

 

 

3.3

%

 

 

6,603,070

 

 

 

3.3

%

 

 

6,516,392

 

Term loans

 

 

1.9

%

 

 

1,829,787

 

 

 

2.1

%

 

 

2,100,009

 

Other

 

 

6.2

%

 

 

14,930

 

 

 

6.2

%

 

 

15,448

 

Secured mortgages

 

 

5.3

%

 

 

901,071

 

 

 

5.1

%

 

 

1,172,473

 

Secured mortgages of consolidated entities

 

 

3.0

%

 

 

1,790,557

 

 

 

2.9

%

 

 

1,822,509

 

Totals

 

 

3.2

%

 

$

11,139,415

 

 

 

3.2

%

 

$

11,626,831

 

 

(1)

The interest rates presented represent the effective interest rates (including amortization of debt issuance costs and the noncash premiums or discounts) at the end of the period for debt outstanding.

 

(2)

Included in the outstanding balances are borrowings denominated in non-U.S. dollars, principally: euro ($3.5 billion), Japanese yen ($1.3 billion) and Canadian dollars ($436.0 million).

 
Credit Facilities

The following table summarizes information about our Credit Facilities at June 30, 2016 (in thousands):

 

 

 

 

 

 

Aggregate lender commitments

 

$

3,455,604

 

Less:

 

 

 

 

Borrowings outstanding

 

 

-

 

Outstanding letters of credit

 

 

38,534

 

Current availability

 

$

3,417,070

 

 
Long-Term Debt Maturities

Principal payments due on our debt, for the remainder of 2016 and for each of the years in the period ending December 31, 2025, and thereafter were as follows at June 30, 2016 (in millions):

 

 

Prologis

 

 

 

 

 

 

 

 

 

 

Unsecured

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit

 

 

Senior

 

 

Term Loans and

 

 

Secured Mortgage

 

 

 

 

 

 

Consolidated Entities’

 

 

Total Consolidated

 

Maturity

Facilities

 

 

Notes

 

 

Other Debt

 

 

Debt

 

 

Total

 

 

Debt

 

 

Debt

 

2016 (1)

$

-

 

 

$

-

 

 

$

1

 

 

$

14

 

 

$

15

 

 

$

6

 

 

$

21

 

2017 (2)

 

-

 

 

 

-

 

 

 

522

 

 

 

8

 

 

 

530

 

 

 

514

 

 

 

1,044

 

2018

 

-

 

 

 

175

 

 

 

1

 

 

 

167

 

 

 

343

 

 

 

403

 

 

 

746

 

2019

 

-

 

 

 

618

 

 

 

1

 

 

 

319

 

 

 

938

 

 

 

143

 

 

 

1,081

 

2020

 

-

 

 

 

877

 

 

 

1

 

 

 

59

 

 

 

937

 

 

 

252

 

 

 

1,189

 

2021

 

-

 

 

 

1,277

 

 

 

399

 

 

 

14

 

 

 

1,690

 

 

 

128

 

 

 

1,818

 

2022

 

-

 

 

 

777

 

 

 

632

 

 

 

10

 

 

 

1,419

 

 

 

154

 

 

 

1,573

 

2023

 

-

 

 

 

850

 

 

 

288

 

 

 

33

 

 

 

1,171

 

 

 

142

 

 

 

1,313

 

2024

 

-

 

 

 

777

 

 

 

1

 

 

 

132

 

 

 

910

 

 

 

1

 

 

 

911

 

2025

 

-

 

 

 

750

 

 

 

1

 

 

 

139

 

 

 

890

 

 

 

1

 

 

 

891

 

Thereafter

 

-

 

 

 

555

 

 

 

7

 

 

 

-

 

 

 

562

 

 

 

2

 

 

 

564

 

Subtotal

 

-

 

 

 

6,656

 

 

 

1,854

 

 

 

895

 

 

 

9,405

 

 

 

1,746

 

 

 

11,151

 

Unamortized premiums (discounts), net

 

-

 

 

 

(22

)

 

 

-

 

 

 

11

 

 

 

(11

)

 

 

49

 

 

 

38

 

Unamortized debt issuance costs, net

 

-

 

 

 

(31

)

 

 

(9

)

 

 

(5

)

 

 

(45

)

 

 

(5

)

 

 

(50

)

Totals

$

-

 

 

$

6,603

 

 

$

1,845

 

 

$

901

 

 

$

9,349

 

 

$

1,790

 

 

$

11,139

 

 

(1)

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

 

(2)

Included in the 2017 maturities is a term loan that can be extended until 2019.