* Has $347 mln in new secured financing

* Will meet $285 mln of debt maturing 2009 and part 2010

NEW YORK, June 18 (Reuters) - ProLogis (PLD.N: Quote, Profile, Research), one of the world's largest owners and developers of warehouse and distribution centers, said on Thursday it has closed on $347 million of secured financing.

The company said it would use the proceeds from the new loans to pay down its line of credit and to meet the $285 million of corporate debt maturing in 2009 and part of 2010.

"Since the beginning of the year, we have repurchased approximately $69 million notional amount of corporate notes at a 29 percent discount, effectively de-leveraging by $200 million," William Sullivan, chief financial officer, said in a statement. "The closing of these loans helps us in addressing our corporate refinancing requirements for the remainder of this year and into 2010."

The new loans are from two major life insurance companies. Two of the loans, totaling $245 million, are 10-year, interest-only, loans secured by 50 properties in 13 markets.

The remaining $102 million loan is a five-year, interest-only, loan secured by 14 properties in eight markets.

The average blended interest rate for the three loans is 7.24 percent.

Denver-based ProLogis has more than than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia, and leases them to more than 4,500 customers, including manufacturers, retailers, and transportation companies.

In after-hours trade, ProLogis shares added two cents to their $8.11 closing price on the New York Stock Exchange. (Reporting by Ilaina Jonas; Editing by Tim Dobbyn)