v2.4.0.8

Debt (Tables) | 9 Months Ended
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Sep. 30, 2014
Debt Disclosure [Abstract] |
Debt Summary | Our debt consisted of the following (dollars in thousands):
|  | September 30, 2014 |  |  | December 31, 2013 |
|  | Weighted Average Interest Rate (1) |  |  | Amount Outstanding (2) |  |  | Weighted Average Interest Rate (1) |  |  | Amount Outstanding |
Credit facilities |  |  | 1.1 | % |  | $ | 741,610 |  |  |  | 1.2 | % |  | $ | 725,483 |
Senior notes |  |  | 3.9 | % |  |  | 5,443,138 |  |  |  | 4.5 | % |  |  | 5,357,933 |
Exchangeable senior notes |  |  | 3.3 | % |  |  | 451,999 |  |  |  | 3.3 | % |  |  | 438,481 |
Secured mortgage debt |  |  | 5.9 | % |  |  | 1,141,772 |  |  |  | 5.6 | % |  |  | 1,696,597 |
Secured mortgage debt of consolidated entities |  |  | 3.9 | % |  |  | 26,064 |  |  |  | 4.7 | % |  |  | 239,992 |
Term loans |  |  | 1.1 | % |  |  | 1,001,930 |  |  |  | 1.7 | % |  |  | 535,908 |
Other debt |  |  | 6.2 | % |  |  | 16,439 |  |  |  | 6.2 | % |  |  | 16,822 |
Totals |  |  | 3.6 | % |  | $ | 8,822,952 |  |  |  | 4.2 | % |  | $ | 9,011,216 |
(1) | The interest rates presented represent the effective interest rates (including amortization of the non-cash premiums or discounts).
(2) | Included in the outstanding balances are borrowings denominated in non-U.S. currency, principally: euro ($3.2 billion), Japanese yen ($0.5 billion) and British pounds sterling ($0.1 billion).
Credit Facilities | Commitments and availability under our Credit Facilities as of September 30, 2014, were as follows (in millions):
Aggregate lender - commitments |  | $ | 2,840.2 |
Less: |  |  |  |
Borrowings outstanding |  |  | 741.6 |
Outstanding letters of credit |  |  | 45.5 |
Current availability |  | $ | 2,053.1 |
Schedule of Senior Notes | During the nine months ended September 30, 2014, and through the date of this report, we issued the following senior notes (in thousands except for percentages):
Issuance Date |  | Principal Amount (1) |  |  | Interest Rate |  |  | Effective Interest Rate |  |  | Maturity Date |
February 2014 (2) |  | € | 700,000 |  |  | $ | 959,420 |  |  |  | 3.375 | % |  |  | 3.52 | % |  |  | February 2024 |
June 2014 (2) |  | € | 500,000 |  |  | $ | 680,550 |  |  |  | 3.000 | % |  |  | 3.10 | % |  |  | June 2026 |
October 2014 (3) |  | € | 600,000 |  |  | $ | 756,420 |  |  |  | 1.375 | % |  |  | 1.40 | % |  |  | October 2020 |
(1) | This debt is denominated in euro and the exchange rate used to calculate into U.S. dollar was the effective rate at the date of the transaction.
(2) | We used the net proceeds for general corporate purposes, including to repurchase senior debt and to repay borrowings under our multi-currency senior term loan and our Global Facility.
(3) | We used the net proceeds for general corporate purposes, including the acquisition and development of properties and additional investments in our European co-investment ventures.
Long-Term Debt Maturities | Principal payments due on our debt, for the remainder of 2014 and for each of the years in the period ending December 31, 2023, and thereafter were as follows at September 30, 2014 (in millions):
|  | Prologis |  |  | Consolidated Entities’ Debt |  |  | Total Consolidated Debt |
|  | Unsecured |  |  | Secured Mortgage Debt |  |  | Total |  |  |
Maturity |  | Senior Debt |  |  | Exchangeable Notes |  |  | Credit Facilities |  |  | Other Debt |  |  |  |  |
2014(1) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 16 |  |  | $ | 17 |  |  | $ | 2 |  |  | $ | 19 |
2015(2) |  |  | — |  |  |  | 460 |  |  |  | — |  |  |  | 1 |  |  |  | 10 |  |  |  | 471 |  |  |  | 4 |  |  |  | 475 |
2016 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 311 |  |  |  | 312 |  |  |  | 3 |  |  |  | 315 |
2017(3) |  |  | 377 |  |  |  | — |  |  |  | 742 |  |  |  | 630 |  |  |  | 227 |  |  |  | 1,976 |  |  |  | 1 |  |  |  | 1,977 |
2018 |  |  | 262 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 111 |  |  |  | 374 |  |  |  | 1 |  |  |  | 375 |
2019 |  |  | 693 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 285 |  |  |  | 978 |  |  |  | 2 |  |  |  | 980 |
2020 |  |  | 375 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 6 |  |  |  | 382 |  |  |  | 2 |  |  |  | 384 |
2021 |  |  | 500 |  |  |  | — |  |  |  | — |  |  |  | 373 |  |  |  | 11 |  |  |  | 884 |  |  |  | 2 |  |  |  | 886 |
2022 |  |  | 881 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 7 |  |  |  | 889 |  |  |  | 3 |  |  |  | 892 |
2023 |  |  | 850 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 7 |  |  |  | 858 |  |  |  | 1 |  |  |  | 859 |
Thereafter |  |  | 1,510 |  |  |  | — |  |  |  | — |  |  |  | 8 |  |  |  | 128 |  |  |  | 1,646 |  |  |  | 5 |  |  |  | 1,651 |
Subtotal |  |  | 5,448 |  |  |  | 460 |  |  |  | 742 |  |  |  | 1,018 |  |  |  | 1,119 |  |  |  | 8,787 |  |  |  | 26 |  |  |  | 8,813 |
Unamortized premiums (discounts), net |  |  | (5 | ) |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | 23 |  |  |  | 10 |  |  |  | — |  |  |  | 10 |
Total |  | $ | 5,443 |  |  | $ | 452 |  |  | $ | 742 |  |  | $ | 1,018 |  |  | $ | 1,142 |  |  | $ | 8,797 |  |  | $ | 26 |  |  | $ | 8,823 |
(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 shares of our common stock per $1,000 principal amount of notes.
(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.

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