Digital Realty Trust, L.P. Announces Pricing of $1.0 Billion Exchangeable Senior Notes Offering
Digital Realty Trust announced that its subsidiary has priced a $1 billion offering of 1.875% exchangeable senior notes due 2029. The notes will be issued to qualified institutional buyers with an initial exchange rate of 4.7998 shares of Digital Realty's common stock per $1,000 principal amount, representing an exchange price of $208.34 per share. The company expects net proceeds of approximately $979.3 million, which will be used to temporarily repay borrowings, acquire properties, fund development, and for general corporate purposes.
Digital Realty Trust ha annunciato che la sua filiale ha stabilito il prezzo di un emissione di $1 miliardo di notes senior convertibili a 1,875% in scadenza nel 2029. Le note saranno emesse a compratori istituzionali qualificati con un tasso di scambio iniziale di 4,7998 azioni delle azioni ordinarie di Digital Realty per ogni $1.000 di valore nominale, rappresentando un prezzo di scambio di $208,34 per azione. L'azienda prevede proventi netti di circa $979,3 milioni, che saranno utilizzati per rimborsare temporaneamente prestiti, acquisire proprietà, finanziare sviluppo e per scopi aziendali generali.
Digital Realty Trust anunció que su filial ha fijado el precio de una emisión de $1 mil millones de bonos senior convertibles al 1.875% con vencimiento en 2029. Los bonos se emitirán a compradores institucionales calificados con una tasa de intercambio inicial de 4.7998 acciones de las acciones comunes de Digital Realty por cada $1,000 de monto principal, lo que representa un precio de intercambio de $208.34 por acción. La empresa espera ingresos netos de aproximadamente $979.3 millones, que se utilizarán para reembolsar temporalmente préstamos, adquirir propiedades, financiar desarrollos y para fines corporativos generales.
디지털 리얼티 트러스트는 그 자회사가 2029년 만기 1.875% 교환 가능 선순위 메모리의 10억 달러 발행 가격을 책정했다고 발표했습니다. 메모리는 자격을 갖춘 기관 투자자에게 발행되며, 초기 교환 비율은 $1,000의 원금 당 디지털 리얼티의 보통주 4.7998주로, 주당 교환 가격은 $208.34입니다. 회사는 약 $979.3 백만의 순수익을 예상하고 있으며, 이는 일시적으로 차입금을 상환하고, 부동산을 인수하며, 개발 자금을 조달하고, 일반 기업 목적에 사용될 것입니다.
Digital Realty Trust a annoncé que sa filiale a fixé le prix d'une émission de 1 milliard de dollars d'obligations senior échangeables à 1,875% arrivant à échéance en 2029. Les obligations seront émises à des acheteurs institutionnels qualifiés avec un taux de conversion initial de 4,7998 actions ordinaires de Digital Realty par tranche de 1 000 $ de montant nominal, représentant un prix de conversion de 208,34 $ par action. La société s'attend à des produits nets d'environ 979,3 millions de dollars, qui seront utilisés pour rembourser temporairement des emprunts, acquérir des biens, financer des développements et à des fins générales d'entreprise.
Digital Realty Trust hat angekündigt, dass ihre Tochtergesellschaft ein 1-Milliarde-Dollar-Angebot für wandelbare Senioranleihen mit 1,875% Zinsen und Fälligkeit im Jahr 2029 bepreist hat. Die Anleihen werden an qualifizierte institutionelle Käufer ausgegeben, mit einem anfänglichen Umtauschverhältnis von 4,7998 Aktien der Stammaktien von Digital Realty pro $1.000 Nennbetrag, was einem Umtauschpreis von $208,34 pro Aktie entspricht. Das Unternehmen erwartet Nettomittel in Höhe von etwa $979,3 Millionen, die vorübergehend zur Rückzahlung von Darlehen, zur Akquisition von Immobilien, zur Finanzierung von Entwicklungen und für allgemeine Unternehmenszwecke verwendet werden sollen.
- Successful $1 billion debt offering indicating strong market confidence
- 20% premium on exchange price over current stock price ($208.34 vs $173.62)
- Low interest rate of 1.875% for the notes
- Net proceeds of $979.3 million strengthening financial position
- Additional debt burden on company's balance sheet
- Potential dilution risk for shareholders if notes are exchanged for common stock
Insights
Digital Realty's
The flexible redemption and exchange features offer balanced optionality. The proceeds, estimated at
The registration rights agreement and fundamental change protections enhance the notes' appeal to institutional investors. Overall, this offering improves financial flexibility while maintaining a conservative capital structure.
The notes will be senior, unsecured obligations of Digital Realty L.P. and will accrue interest at a rate of
The notes will be redeemable, in whole or in part (subject to certain limitations), for cash at Digital Realty L.P.'s option at any time, and from time to time, on or after November 22, 2027 and on or before the 40th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Digital Realty's common stock exceeds
If certain corporate events that constitute a "fundamental change" occur, then, subject to a limited exception, noteholders may require Digital Realty L.P. to repurchase their notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.
The notes will be entitled to the benefits of a registration rights agreement pursuant to which Digital Realty will agree to register, under the Securities Act, the resale of the shares of Digital Realty's common stock, if any, issuable upon exchange of the notes within specified time periods and subject to certain limitations.
Digital Realty L.P. estimates that the net proceeds from the offering will be approximately
The offer and sale of the notes, the guarantee and any shares of Digital Realty's common stock issuable upon exchange of the notes have not been registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws. Although Digital Realty L.P. and Digital Realty will enter into a registration rights agreement pursuant to which Digital Realty will agree to register, under the Securities Act, the resale of the shares of Digital Realty's common stock, if any, issuable upon exchange of the notes, the registration rights agreement will contain significant limitations, and a resale registration statement may not be available at the time investors wish to resell the shares of Digital Realty's common stock, if any, issuable upon exchange of their notes. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any shares of Digital Realty's common stock issuable upon exchange of the notes, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful.
About Digital Realty
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. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 25+ countries on six continents.
Investor Relations
Jordan
Digital Realty
+1 415 275 5344
InvestorRelations@digitalrealty.com
Safe Harbor Statement
This press release includes forward-looking statements, including statements regarding the completion of the offering and the expected amount and intended use of the net proceeds. Forward-looking statements represent Digital Realty's current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, the satisfaction of the closing conditions related to the offering and risks relating to Digital Realty's business, including those described in periodic reports that Digital Realty files from time to time with the SEC. Digital Realty L.P. may not consummate the offering described in this press release and, if the offering is consummated, cannot provide any assurances regarding its ability to effectively apply the net proceeds as described above. The forward-looking statements included in this press release speak only as of the date of this press release, and neither Digital Realty nor Digital Realty L.P. undertakes to update the statements included in this press release for subsequent developments, except as may be required by law.
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SOURCE Digital Realty Trust
FAQ
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