SAN FRANCISCO, March 4, 2019 /PRNewswire/ -- Digital Realty
(NYSE: DLR), a leading global provider of data center, colocation
and interconnection solutions, announced today the pricing of an
underwritten public offering of 8,000,000 shares of 5.850% Series K
Cumulative Redeemable Preferred Stock with a liquidation preference
of $25.00 per share for gross
proceeds of $200 million. The company
has also granted the underwriters a 30‐day option to purchase from
the company up to an additional 1,200,000 shares solely to cover
over-allotments.
The preferred stock offering is expected to close on
March 13, 2019, subject to customary
closing conditions.
The company intends to use the net proceeds from the offering of
the preferred stock to repay borrowings outstanding under the
operating partnership's global revolving credit facility, acquire
additional properties or businesses, fund development
opportunities, and to provide for working capital and other general
corporate purposes, including potentially for the repayment of
other debt or the repurchase, redemption, or retirement of
outstanding debt securities or preferred stock, or a combination of
the foregoing.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan
Stanley & Co. LLC and Wells Fargo Securities, LLC are the joint
book-running managers for the preferred stock offering.
The preferred stock offering was made under an effective shelf
registration statement filed with the Securities and Exchange
Commission. A copy of the prospectus supplement and
accompanying prospectus relating to the offering of the preferred
stock will be filed with the SEC and will be available by visiting
the EDGAR database on the SEC's website at www.sec.gov or by
contacting:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Attn: Prospectus Department
200 North College Street
NC1-004-03-43
Charlotte, NC 28255
(800) 294-1322
dg.prospectus_requests@baml.com
Morgan Stanley & Co. LLC
1585 Broadway, 29th Floor
New York, NY 10036
(866) 718-1649
prospectus@morganstanley.com
Wells Fargo Securities, LLC
Attn: WFS Customer Service 608 2nd Avenue South
Minneapolis, MN 55402
(800) 645-3751
wfscustomerservice@wellsfargo.com
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the preferred stock or any other
securities, nor shall there be any offer, solicitation or sale of
preferred stock or any other securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About Digital Realty
Digital Realty supports the data center, colocation and
interconnection strategies of more than 2,300 firms across its
secure, network-rich portfolio of data centers located throughout
North America, Europe, Latin
America, Asia and
Australia. Digital Realty's clients include domestic and
international companies of all sizes, ranging from cloud and
information technology services, social networking and
communications to financial services, manufacturing, energy,
healthcare, and consumer products.
For Additional Information:
Andrew P. Power
Chief Financial Officer
Digital Realty
(415) 738-6500
Investor Relations
John J.
Stewart / Maria S. Lukens
Digital Realty
(415) 738-6500
investorrelations@digitalrealty.com
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, including statements related to
the timing and consummation of the offering of the preferred stock
and the expected use of the net proceeds. The Company can
provide no assurances that it will be able to complete the offering
on the anticipated terms, or at all. For a further list and
description of such risks and uncertainties, see the company's
reports and other filings with the U.S. Securities and Exchange
Commission, including the Annual Report on Form 10-K for the year
ended December 31, 2018. Digital
Realty disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE Digital Realty