I have been watching some of the debt that is being sold in Europe by some top rated U.S. companies and one that just happened that really stands out is the E1.8 billion (Euro) issue which just closed from real estate giant Prologis (NYSE:PLD). Prologis is a global giant, so they borrow in markets that provide the best advantage to the company.
The company sold 3 series of notes with those due in 2027 pricing at 1/4%, the 2031 notes were 5/8% and those way out in 2049 were 1.50%. To add insult to injury the interest is paid annually.
The bonds were rated A3 by Moodys and A- by S&P.