New York-listed Prologis has reduced the size of its global senior credit facility to $2.25 bn and extended the maturity to 21 August 2012. The credit facility will continue to have a capacity of $3.6 bn through October 6, 2010 when the amended terms take effect.

Prologis secured commitments of $2.25 bn from 19 lenders under the amended and extended credit facility. Funds may be drawn in US dollars, euros, Japanese yen, British pound sterling and Canadian dollars during the extended period.

As part of the amendment, Prologis has terminated its existing $600 mln senior, term-loan facility, which was scheduled to mature on 6 October 2009.

'We are pleased to have successfully secured such a strong level of commitments under very difficult bank lending conditions,' said Prologis chief financial officer William Sullivan.

'The size of the amended and extended credit facility is consistent with our expectations and appropriate for our current level of business activity. Additionally, we believe the participation of 17 of our major, existing lenders and two new lenders in the amended and extended credit facility is directly related to our progress in de-leveraging the company and right-sizing our balance sheet. We appreciate the vote of confidence from our extending lending group for our plan.'