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The notes, due in 2032, are being sold only outside the United States by Digital Intrepid Holding B.V.
Founder and Editor, The Tech Capital
January 12, 2022 | 2:46 PM GMT
Data centre REIT Digital Realty (NYSE: DLR) has announced today that Digital Intrepid Holding B.V., an indirect wholly-owned holding and finance subsidiary of the company’s operating partnership, Digital Realty Trust, L.P., priced an offering of €750,000,000 (US$850 million) aggregate principal amount of 1.375% Guaranteed Notes due 2032 at a price of 99.056% of the principal amount.
The Euro Notes will be senior unsecured obligations of Digital Intrepid Holding B.V. and will be fully and unconditionally guaranteed by the company and the operating partnership, Digital Realty said in a statement.
Interest on the Euro Notes will be payable annually in arrears at a rate of 1.375% per annum from and including January 18, 2022, and the Euro Notes will mature on July 18, 2032.
The company intends to use the net proceeds from the Euro Notes to temporarily repay borrowings outstanding under the operating partnership’s global revolving credit facilities, acquire additional properties or businesses, fund development opportunities, invest in interest-bearing accounts and short-term, interest-bearing securities which are consistent with the company’s intention to qualify as a REIT for US federal income tax purposes, and to provide for working capital and other general corporate purposes, including potentially for the repayment of other debt, or the redemption, repurchase, repayment or retirement of outstanding equity or debt securities, or a combination of the foregoing.
The Euro Notes are being sold only outside the United States in reliance on Regulation S under the U.S. Securities Act of 1933, as amended.
Digital Realty said: “The Euro Notes have not been and will not be registered under the Securities Act and may not be offered or sold in the United States or to United States persons (within the meaning of Regulation S under the Securities Act) absent registration or an applicable exemption from registration requirements.”
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