Aluminum siding
million in bond financing through aJapanese special-purpos company to help pay ProLogis (NYSE: PLD), a publicly traded real estate investment trusgt based in Denver, is one of the world's largesgt operators of distribution centers. The company owns or manages more than 475 millio n square feet of space in North Europeand Asia. ProLogis obtainecd the financing througha "tokutei mokuteki kaisha" (TMK), a tax-favored, special-purpose vehicle created in Japan for acquiring and holding Japanesd assets including real estate. ProLogie used the financing to pay down global lineswof credit. ProLogis had $9.3 billionb in total debt at the end of the first quarter, down from $10.
7 million at year-enx 2008, according to this year's first-quarter The TMK financing has a three-year maturity, and is securecd by the fully leased ProLogiss Park Narashino III distribution center in Tokyo. The TMK issuezs corporate bonds to its holders secured by realestatr assets, and it can be used by both Japanese and non-Japaneses investors.
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