$263 million Follow-On Offering of Nippon Prologis REIT


Simpson Thacher represented the international managers in connection with a follow-on offering of Nippon Prologis REIT, Inc., which included an international offering to institutional investors pursuant to Rule 144A and Regulation S.

The offering raised approximately ¥27.6 billion (approximately US$263 million) for the issuer, which was used with bank financing and cash on hand toward the repayment of bridge loans entered into to acquire logistics facilities and will be used to fund the acquisition of additional logistics facilities.

Morgan Stanley, SMBC Nikko, Goldman Sachs International, J.P. Morgan and BofA Merrill Lynch acted as international joint lead managers for the offering.

Nippon Prologis REIT Inc. is a real estate investment trust (REIT) that directly invests in real estate properties used for logistics businesses. The firm, led by Masahiro Sakashita, Katsumi Shimamura and Yoichiro Hamaoka, in 2017 recorded $320 Million Revenues.

The Simpson Thacher team included Alan Cannon (Picture), David Snowden and Brandon Whittaker (Capital Markets); Jonathan Cantor and John Torrenti (Tax); and Jennie Getsin (Blue Sky).

Involved fees earner: Alan Cannon – Simpson Thacher & Bartlett; David Snowden – Simpson Thacher & Bartlett; Brandon Whittaker – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; John Torrenti – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Bank of America Merrill Lynch; Goldman Sachs International; JP Morgan; Morgan Stanley; Smbc Nikko Capital Markets Limited;

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Author: Michael Patrini