SAN FRANCISCO, Aug. 4 /PRNewswire-FirstCall/ -- AMB Property
Corporation® (NYSE: AMB) announced today that its operating
subsidiary, AMB Property, L.P. (the "Operating Partnership"),
announced the offering of a new series of notes due 2017 in an
underwritten registered public offering. The notes will be
senior unsecured obligations of the Operating Partnership and will
be fully and unconditionally guaranteed by AMB Property
Corporation. The aggregate principal amount and coupon rate
of the notes will be determined at the time the notes are sold to
investors. The offering will be made pursuant to an effective
shelf registration statement filed with the Securities and Exchange
Commission on August 14, 2009.
The offering is expected to close on August 9, 2010, subject to certain closing
conditions.
The Operating Partnership intends to use a portion of the net
proceeds to reduce U.S. dollar borrowings under its $425.0 million multi-currency senior unsecured
term loan facility. The Operating Partnership intends to use
any remaining proceeds, in conjunction with cash, to repay an
approximately $65.8 million secured
mortgage instrument.
A copy of the prospectus supplement and prospectus relating to
these securities may be obtained, when available, by contacting
J.P. Morgan Securities Inc., 383 Madison Avenue, New York, New York 10179, Attention: High
Grade Syndicate Desk - 3rd floor, Phone +1 212-834-4533; Banc of
America Securities LLC, 100 West 33rd Street, 3rd Floor,
New York, New York 10001,
Attention: Prospectus Department, Phone +1 800-294-1322; or Morgan
Stanley & Co. Incorporated, Attention: Prospectus Department,
180 Varick Street, 2nd Floor, New York,
New York 10014, Phone +1 866-718-1649.
This press release is for informational purposes only and is not
an offer to buy or the solicitation of an offer to sell with
respect to any securities. The offering is not being made in
any jurisdiction in which the making or acceptance thereof would
not be in compliance with the securities, blue sky or other laws of
such jurisdiction.
AMB Property Corporation.® Local partner to global
trade.™
AMB Property Corporation® is a leading owner, operator and
developer of global industrial real estate, focused on major hub
and gateway distribution markets in the Americas, Europe and Asia. As of June 30,
2010, AMB owned, or had investments in, on a consolidated
basis or through unconsolidated joint ventures, properties and
development projects expected to total approximately 156.1 million
square feet (14.5 million square meters) in 48 markets within 15
countries. AMB invests in properties located predominantly in the
infill submarkets of its targeted markets. The company's portfolio
comprises High Throughput Distribution® facilities -- industrial
properties built for speed and located near airports, seaports and
ground transportation systems.
AMB's press releases are available on the company website at
www.amb.com or by contacting the Investor Relations department at
+1 415 394 9000.
Some of the information included in this press release contains
forward-looking statements, such as statements related to the
offering and the issuance and sale of the notes, expected use of
the net proceeds and the availability of a final prospectus
supplement, which are made pursuant to the safe-harbor provisions
of Section 21E of the Securities Exchange Act of 1934, as amended,
and Section 27A of the Securities Act of 1933, as amended. Because
these forward-looking statements involve numerous risks and
uncertainties, there are important factors that could cause our
actual results to differ materially from those in the
forward-looking statements, and you should not rely on the
forward-looking statements as predictions of future events. The
events or circumstances reflected in the forward-looking statements
might not occur. You can identify forward-looking statements by the
use of forward-looking terminology such as "believes," "expects,"
"may," "will," "should," "seeks," "approximately," "intends,"
"plans," "forecasting, " "pro forma," "estimates" or "anticipates"
or the negative of these words and phrases or similar words or
phrases. You can also identify forward-looking statements by
discussions of strategy, plans or intentions. Forward-looking
statements should not be read as guarantees of future performance
or results, and will not necessarily be accurate indicators of
whether, or the time at which, such performance or results will be
achieved. There is no assurance that the events or circumstances
reflected in forward-looking statements will occur or be achieved.
Forward-looking statements are necessarily dependent on
assumptions, data or methods that may be incorrect or imprecise and
we may not be able to realize them. We caution you not to place
undue reliance on forward-looking statements, which reflect our
analysis only and speak as of the date of this press release or as
of the dates indicated in the statements. All of our
forward-looking statements are qualified in their entirety by this
statement. We assume no obligation to update or supplement
forward-looking statements. The following factors, among others,
could cause actual results and future events to differ materially
from those set forth or contemplated in the forward-looking
statements contained in this press release: any material adverse
change in the financial or securities markets within or outside
the United States or in political,
financial or economic conditions within or outside the United States or any material outbreak or
material escalation of hostilities within or outside the United States or declaration by
the United States of a national
emergency or war or other material calamity or crisis within or
outside the United States,
including, without limitation, an act of terrorism, any suspension
or limitation of trading in securities generally or in any of the
securities of AMB by the SEC, by any exchange that lists such
securities or in any over-the-counter market, any declaration by
any governmental authority of a general banking moratorium, any
financial market fluctuations, actual or perceived changes in
general economic conditions, global trade or in the real estate
sector, inflation risks, an actual or perceived downturn in the
U.S., California or global
economy, and certain other matters discussed under the heading
"Risk Factors" and elsewhere in our annual report on Form 10-K for
the year ended December 31, 2009 and
our quarterly reports on Form 10-Q for the quarters ended
March 31, 2010 and June 30, 2010.
SOURCE AMB Property Corporation
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