Digital Realty (NYSE: DLR) said it has amended, extended, and upsized its existing global revolving credit facility from US$2.35 billion to $3.0 billion to further fund its global rollout.

Pricing was tightened by five basis points at the BBB / Baa2 senior unsecured debt rating, the maturity date was extended by three years, and total availability was expanded by $650 million. 

The new $3 billion global revolving credit facility matures in January 2027, assuming the exercise of two six-month extension options. 

In addition, Digital Realty has the ability to upsize the facility by up to $1.5 billion.

The global revolving credit facilities now feature a sustainability-linked pricing component, with pricing subject to adjustment based on annual performance targets, further demonstrating the company’s continued leadership and commitment to sustainable business practices.

Digital Realty has also amended and extended its existing ¥33.3 billion (approximately $290 million) Japanese yen-denominated revolving credit facility. 

The ¥33.3 billion revolving credit facility also matures in January 2027, assuming the exercise of two six-month extension options. 

Pricing for the ¥33.3 billion facility is 50 basis points over the applicable index for floating rate advances, based on the company’s BBB / Baa2 senior unsecured debt rating. 

Digital Realty also has the ability to upsize the yen facility by up to an additional ¥60 billion (approximately $525 million). 

Andrew P. Power, president and CFO of the business, said: “We are proud to draw an even tighter connection between our corporate commitment to sustainability and our global financing strategy, and we are pleased by the strong support from the global lending community for the recast of our credit facilities.

“The refinancing was well oversubscribed, with commitments from more than 25 financial institutions around the world.  With strong support from our lending group, we were able to upsize the facility by $650 million and extend the maturity to January 2027, including extension options. 

“We believe the successful refinancing underscores the institutional lender community’s view of the strength of our balance sheet and underlying business, while providing us with greater financial flexibility as we continue to prudently fund the growth of our global platform.” 

BofA Securities, Inc., Citibank, N.A., JPMorgan Chase Bank, N.A. are serving as co-sustainability structuring agents for the global revolving credit facility while Sumitomo Mitsui Banking Corporation, MUFG Bank, LTD, and Mizuho Bank, LTD are serving as sustainability structuring agent for the Yen revolving credit facility.