Digital Realty Trust(US:DLR) Prnewswire·2024-11-07 00:53Core Viewpoint - Digital Realty Trust, Inc. has announced a private offering of $1 billion in exchangeable senior notes with a 1.875% interest rate, maturing in 2029, to strengthen its financial position and support various corporate purposes [1][6]. Group 1: Offering Details - The offering consists of $1,000,000,000 aggregate principal amount of 1.875% exchangeable senior notes due 2029, with a settlement date of November 12, 2024 [1]. - The notes will accrue interest at a rate of 1.875% per annum, payable semi-annually starting May 15, 2025, and maturing on November 15, 2029 [2]. - An option for initial purchasers to buy an additional $150,000,000 principal amount of notes is available within 13 days of the initial issuance [1]. Group 2: Exchange and Redemption Features - Noteholders can exchange their notes under specific conditions before August 15, 2029, and at any time thereafter until the maturity date, with an initial exchange rate of 4.7998 shares per $1,000 principal amount [2]. - The initial exchange price of approximately $208.34 per share represents a 20% premium over the last reported sale price of $173.62 on November 6, 2024 [2]. - The notes are redeemable at Digital Realty L.P.'s option starting November 22, 2027, under certain conditions related to the stock price [3]. Group 3: Use of Proceeds - Digital Realty L.P. estimates net proceeds of approximately $979.3 million, or $1,126.8 million if the additional notes option is fully exercised, to be used for repaying borrowings, acquiring properties, funding development, and general corporate purposes [6]. Group 4: Corporate Structure and Operations - Digital Realty is the largest global provider of cloud- and carrier-neutral data center solutions, with over 300 facilities across 50+ metros in 25+ countries [9]. - The company aims to deliver a secure data meeting place and manage data challenges through its global data center platform, PlatformDIGITAL® [9].