Digital Realty Trust, L.P. Announces Proposed Exchangeable Senior Notes Offering

Core Viewpoint - Digital Realty Trust, Inc. announced a private offering of $1 billion in exchangeable senior notes due 2029, with an option for an additional $150 million, aimed at qualified institutional buyers [1][6]. Group 1: Offering Details - The notes will be senior, unsecured obligations of Digital Realty L.P., accruing interest payable semi-annually and maturing on November 15, 2029 [2]. - Noteholders can exchange their notes under certain conditions, with settlements in cash and potentially shares of Digital Realty's common stock [2][5]. - The notes are redeemable at Digital Realty L.P.'s option starting November 22, 2027, under specific conditions related to the stock price [3]. Group 2: Repurchase and Registration Rights - In the event of a "fundamental change," noteholders may require Digital Realty L.P. to repurchase their notes for cash at the principal amount plus accrued interest [4]. - The notes will have a registration rights agreement for the resale of shares of Digital Realty's common stock upon exchange, subject to limitations [5][7]. Group 3: Use of Proceeds - The net proceeds from the offering will be used to repay borrowings, acquire properties or businesses, fund development opportunities, and for general corporate purposes [6]. Group 4: Company Overview - Digital Realty is the largest global provider of cloud- and carrier-neutral data center solutions, with over 300 facilities in more than 50 metros across 25 countries [8].