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Press Release -- November 5th, 2010
Source: Digital Realty Trust
Tags: Exchange

Digital Realty Trust, Inc. and Digital Realty Trust, L.P. Announce Completion of Exchange Offer of Digital Realty Trust, L.P.’s 5.875% Notes Due 2020 for Registered Notes

SAN FRANCISCO, Nov. 5, 2010 /PRNewswire via COMTEX/ --

Digital Realty Trust, Inc. (the "Company") (NYSE:DLR, news, filings) announced today that the Company, together with its operating partnership subsidiary, Digital Realty Trust, L.P. (the "Operating Partnership"), have completed their registered exchange offer to exchange up to $500 million aggregate principal amount of the Operating Partnership's 5.875% Notes due 2020, which have been registered under the Securities Act of 1933, as amended (the "Exchange Notes"), for any and all of the Operating Partnership's outstanding 5.875% Notes due 2020, which were issued in a private placement (the "Private Notes"). The Private Notes and the Exchange Notes are the senior unsecured obligations of the Operating Partnership and are fully and unconditionally guaranteed by the Company. $499.23 million of the $500 million aggregate principal amount of the Private Notes were tendered and received prior to expiration of the exchange offer at 5:00 p.m., New York City time, on November 1, 2010.

The $0.77 million aggregate principal amount of Private Notes not tendered for exchange in the exchange offer will remain outstanding and continue to accrue interest, but will not, except in limited circumstances, retain any rights under the registration rights agreement entered into by the Company and the Operating Partnership in connection with the sale of the Private Notes.

This press release shall not constitute an offer to sell or exchange any securities or a solicitation of an offer to buy or exchange any securities. The exchange offer was made only by means of a written prospectus dated September 24, 2010.

Safe Harbor Statement

This press release contains certain forward-looking statements which are based on the Company's 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 exchange offer. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions; current local economic conditions in its geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in its industry or the industry sectors that it sells to (including risks relating to decreasing real estate valuations and impairment charges); its 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; its failure to obtain necessary debt and equity financing; increased interest rates and operating costs; its failure to repay debt when due or its breach of covenants or other terms contained in its loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; its inability to manage its growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; its failure to successfully operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of its lack of control of such investments; delays or unexpected costs in development or redevelopment of properties; decreased rental rates or increased vacancy rates; increased competition or available supply of data center space; its inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; its inability to acquire off-market properties; its inability to comply with the rules and regulations applicable to reporting companies; its failure to maintain its status as a REIT; possible adverse changes to tax laws; restrictions on its ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and 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 Company's reports and other filings with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2009 and the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2010 and June 30, 2010. 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 Pamela A. Matthews
Chief Financial Officer and Investor/Analyst Information
Chief Investment Officer Digital Realty Trust, Inc.
Digital Realty Trust, Inc. +1 415-738-6500
+1 415-738-6500

SOURCE Digital Realty Trust, Inc.

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