SAN FRANCISCO, April 3, 2014 /PRNewswire/ -- Digital Realty
Trust, Inc. (the "Company" or "Digital Realty") (NYSE: DLR) today
announced the pricing, in an underwritten public offering, of a
reopening of 2.0 million shares of 7.375% Series H Cumulative
Redeemable Preferred Stock at a price of $25.00 per share for gross proceeds of
$50.0 million. The offering,
which priced on April 2, 2014, is
expected to close on April 7, 2014,
subject to closing conditions.
The Company intends to contribute the net proceeds from this
offering to its operating partnership, Digital Realty Trust, L.P.,
which will subsequently use the net proceeds received from the
Company to temporarily repay borrowings under its global revolving
credit facility, to acquire additional properties, to fund
development opportunities, for general corporate purposes,
including potentially for the repurchase, redemption or retirement
of outstanding debt or preferred equity securities, or a
combination of the foregoing. The offering is being made pursuant
to an effective shelf registration statement filed by the Company
with the Securities and Exchange Commission and only by means of a
prospectus and related prospectus supplement.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan
Stanley & Co. LLC and Wells Fargo Securities, LLC are the joint
book-running managers for the offering.
A copy of the prospectus supplement and prospectus relating to
these securities may be obtained, when available, by contacting
Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222
Broadway, New York, NY 10038,
Attn: Prospectus Department (email:
dg.prospectus_requests@baml.com), 1-800-294-1322; Morgan Stanley
& Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention:
Prospectus Department (telephone: 1-866-718-1649 or email:
prospectus@morganstanley.com); or Wells Fargo Securities, LLC, 1525
West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attention: Capital
Markets Client Support, (telephone: 1-800-326-5897 or email:
cmclientsupport@wellsfargo.com).
This press release is for informational purposes only and is not
an offer to sell or the solicitation of an offer to buy with
respect to any securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The offering is not
being made in any jurisdiction in which the making or acceptance
thereof would not be in compliance with the securities, blue sky or
other laws of such jurisdiction.
About Digital Realty
Digital Realty Trust, Inc.
focuses on delivering customer-driven data center solutions by
providing secure, reliable and cost-effective facilities that meet
each customer's unique data center needs. Digital Realty's
customers include domestic and international companies across
multiple industry verticals ranging from financial services, cloud
and information technology services, to manufacturing, energy,
health care and consumer products. Digital Realty's 131 properties,
including 12 properties held as investments in unconsolidated joint
ventures, comprised approximately 24.5 million square feet as of
December 31, 2013, including
approximately 1.8 million square feet of space under active
development and 1.3 million square feet of space held for future
development. Digital Realty's portfolio is located in 33 markets
throughout North America,
Europe, Asia and Australia.
Safe Harbor Statement
This press release contains
forward-looking statements which are based on current expectations,
forecasts and assumptions that involve risks and uncertainties that
could cause actual outcomes and results to differ materially. Such
forward-looking statements include statements related to the
completion and timing of the offering and the intended use of
proceeds from the offering. These risks and uncertainties include,
among others, the following: the impact of current global economic,
credit and market conditions; current local economic conditions in
our geographic markets; decreases in information technology
spending, including as a result of economic slowdowns or recession;
adverse economic or real estate developments in our industry or the
industry sectors that we sell to (including risks relating to
decreasing real estate valuations and impairment charges); our
dependence upon significant tenants; bankruptcy or insolvency of a
major tenant or a significant number of smaller tenants; defaults
on or non-renewal of leases by tenants; our failure to obtain
necessary debt and equity financing; risks associated with using
debt to fund our business activities, including re-financing and
interest rate risks, our failure to repay debt when due, adverse
changes in our credit ratings or our breach of covenants or other
terms contained in our loan facilities and agreements; financial
market fluctuations; changes in foreign currency exchange rates;
our inability to manage our growth effectively; difficulty
acquiring or operating properties in foreign jurisdictions; our
failure to successfully integrate and operate acquired or developed
properties or businesses; the suitability of our properties and
data center infrastructure, delays or disruptions in connectivity,
failure of our physical infrastructure or services or availability
of power; risks related to joint venture investments, including as
a result of our lack of control of such investments; delays or
unexpected costs in development of properties; decreased rental
rates, increased operating costs or increased vacancy rates;
increased competition or available supply of data center space; our
inability to successfully develop and lease new properties and
development space; difficulties in identifying properties to
acquire and completing acquisitions; our inability to acquire
off-market properties; our inability to comply with the rules and
regulations applicable to reporting companies; our failure to
maintain our status as a REIT for federal income tax purposes;
possible adverse changes to tax laws; restrictions on our ability
to engage in certain business activities; environmental
uncertainties and risks related to natural disasters; losses in
excess of our insurance coverage; changes in foreign laws and
regulations, including those related to taxation and real estate
ownership and operation; and changes in local, state and federal
regulatory requirements, including changes in real estate and
zoning laws and increases in real property tax rates. For a further
list and description of such risks and uncertainties, see the
reports and other filings by the Company with the U.S. Securities
and Exchange Commission, including the Company's Annual Report on
Form 10-K, as amended, for the year ended December 31, 2013. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
For Additional Information:
A. William
Stein
|
John J.
Stewart
|
Interim Chief
Executive Officer,
|
Senior Vice
President
|
Chief Financial
Officer and Chief Investment Officer
|
Investor
Relations
|
Digital Realty Trust,
Inc.
|
Digital Realty Trust,
Inc.
|
+1 (415)
738-6500
|
+1 (415)
738-6500
|
SOURCE Digital Realty Trust, Inc.