Digital Realty Trust: Digital Realty: Sustainability-linked refinancing

Nov 25, 2021 | Posted by MadalineDunn

Digital Realty has announced that it has "amended, extended, and upsized" its existing global revolving credit facility from $2.35 billion to $3.0 billion, which now feature a sustainability-linked pricing component. Moreover, the pricing will be "subject to adjustment" based on performance targets.

Digital Realty President & Chief Financial Officer Andrew P. Power, commented: "We are proud to draw an even tighter connection between our corporate commitment to sustainability and our global financing strategy, and we are pleased by the strong support from the global lending community for the recast of our credit facilities."

Adding: "The refinancing was well oversubscribed, with commitments from more than 25 financial institutions around the world. With strong support from our lending group, we were able to upsize the facility by $650 million and extend the maturity to January 2027, including extension options. We believe the successful refinancing underscores the institutional lender community's view of the strength of our balance sheet and underlying business, while providing us with greater financial flexibility as we continue to prudently fund the growth of our global platform." 

Alex Liftman, Bank of America's Global Environmental Executive outlined that this move shows the company's "commitment to ESG," adding: "Bank of America is pleased to have played a role in this important transaction."

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