UPDATE 2-PEPR to raise 61 mln euros with preference issue
* Convertible preference issue fully underwritten
* Priced at 5.93 euros/unit
* 2010 debt reduced to 634 mln euros
* Shares almost flat
(Adds details on debt reductions, bank covenants)
AMSTERDAM, Nov 16 (Reuters) - Debt-laden ProLogis European Properties (PEPR.AS: Quote, Profile, Research) said on Monday it would launch a fully underwritten 61 million-euro convertible preference share issue and that it might make a further issue later.
PEPR, which is cutting debt and selling assets and manages 3 billion euros worth of European distribution facilities, had said last month it might make such an issue before the end of the year.
PEPR shares were up 0.04 percent at 4.451 euros, underperforming a 2.5 percent rise in the Amsterdam midcap index . Continued...
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