Digital Realty Trust Issues €850 Million Euro Notes due 2035

Digital Realty Trust, Inc. and its operating partnership, Digital Realty Trust, L.P., announced on January 14, 2025, that Digital Dutch Finco B.V., an indirect wholly owned finance subsidiary of the operating partnership, successfully issued and sold €850,000,000 aggregate principal amount of 3.875% Guaranteed Notes due 2035 (Euro Notes). These Euro Notes are senior unsecured obligations of Digital Dutch Finco B.V. and are fully guaranteed by Digital Realty Trust, Inc. and the operating partnership.

The offering of Euro Notes, carried out outside the United States in reliance on Regulation S under the Securities Act of 1933, involves an indenture dated January 14, 2025. This indenture, among other things, places restrictions on incurring additional indebtedness and requires the maintenance of a pool of unencumbered assets. Notably, the net proceeds from the Euro Notes offering amounting to approximately €838.4 million will be allocated towards various objectives.

These objectives include repaying borrowings under the operating partnership’s global revolving credit facilities, potential acquisitions, funding development opportunities, investing in interest-bearing accounts and securities, working capital needs, and general corporate purposes. The utilization may also extend to repaying other debts, redeeming securities, or retiring outstanding equity or debt securities.

Regarding the Euro Notes specifics, they were sold at a price equivalent to 99.343% of the principal amount, bear interest at 3.875% per annum, and mature on March 15, 2035. Moreover, the Euro Notes can be redeemed in whole or in part at the issuer’s discretion under certain terms provided in the indenture.

Events of default outlined in the agreement could result in the acceleration of the Euro Notes’ maturity, including payment defaults or breaches of covenants. Payment of principal and interest on the Euro Notes is to be made free of withholding or deduction for taxes unless required by law.

Additional provisions cover the potential impact of tax law changes and the issuer’s obligations to make additional payments to investors under specific circumstances. The filing also details the issuer’s mechanism for curing non-compliance and potential strategies to maintain compliance with the NYSE’s listing standards.

Please note that all descriptions provided in this report are summaries and are subject to the detailed terms and conditions outlined in the respective agreements and legal documents.

This information was disclosed in a Form 8-K filed with the Securities and Exchange Commission on January 14, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Digital Realty Trust’s 8K filing here.

About Digital Realty Trust

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation, and interconnection solutions. PlatformDIGITAL, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx) solution methodology for powering innovation and efficiently managing Data Gravity challenges.