Digital Realty Trust: Digital Realty Announces $350 Million Note Offering

Digital Realty has announced that it is offering a $350 million note to the public. In addition, its Digital Core Real Estate Investment Trust (REIT), listed in Singapore, will buy a stake in a Digital Realty-owned data center in Germany. The company noted that it is priced an underwritten PO of $350m of additional 5.550% notes due in 2028. Digital Realty will issue the additional notes under the $550m notes it issued previously. Citigroup Global Markets Inc. and BofA Securities Inc. are the joint book-running managers for the note offering.

Digital Realty plans to use the net proceeds from the note offering to repay its borrowing outstanding related to its credit facilities, fund development opportunities, acquire additional businesses or properties, and invest in interest-bearing securities. 

Digital Core REIT also announced that it would acquire a 25% stake in a data center in Frankfurt for US$140m. The acquisition is 100% debt funded.