PR Archives:  LatestBy Company By Date


Press Release -- March 9th, 2016
Source: Digital Realty Trust
Tags:

Digital Realty Trust, Inc. and Digital Realty Trust, L.P. Announce Extension of Exchange Offer of Digital Realty Trust, L.P.’s 3.400% Notes due 2020 for Registered Notes and Expiration of Exchange Offer of Digital Realty Trust, L.P.’s 4.750% Notes due 202

SAN FRANCISCO, March 9, 2016 /PRNewswire/ — Digital Realty Trust, Inc. (the “company”) (NYSE:DLR, news, filings) announced today that it and its operating partnership subsidiary, Digital Realty Trust, L.P. (the “Operating Partnership”), have extended their pending registered exchange offer to exchange up to $500 million aggregate principal amount of the Operating Partnership’s 3.400% Notes due 2020 that have been registered under the Securities Act of 1933, as amended (the “2020 Exchange Notes”), for any and all of the Operating Partnership’s outstanding 3.400% Notes due 2020, which were issued in a private placement (the “2020 Private Notes”).  The exchange offer, which was originally scheduled to expire at 5:00 p.m., New York City time, on March 8, 2016, has been extended until 5:00 p.m., New York City time, on March 15, 2016, unless further extended.

Approximately $499.1 million aggregate principal amount of the 2020 Private Notes, out of the$500 million aggregate principal amount eligible to participate in the exchange offer, were tendered as of the originally scheduled expiration date.

The company and the Operating Partnership also announced today that their registered exchange offer to exchange up to $450 million aggregate principal amount of the Operating Partnership’s 4.750% Notes due 2025 that have been registered under the Securities Act of 1933, as amended (the “2025 Exchange Notes” and, together with the 2020 Exchange Notes, the “Exchange Notes”), for any and all of the Operating Partnership’s outstanding 4.750% Notes due 2025, which were issued in a private placement (the “2025 Private Notes” and, together with the 2020 Private Notes, the “Private Notes”) expired at 5:00 p.m., New York City time, on March 8, 2016.  All$450 million aggregate principal amount of the 2025 Private Notes were tendered and accepted for exchange.

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.

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 offers are being made only by means of a written exchange offer prospectus dated February 5, 2016, and the exchange offer with respect to the 2020 Private Notes, as extended hereby, remains subject to the terms and conditions stated therein.  Requests for assistance or for copies of the exchange offer prospectus should be directed to Wells Fargo Bank, N.A., Corporate Trust Services, 608 2ndAvenue South, 12th Floor, Minneapolis, Minnesota 55402, Attention: Bondholder Communications.

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 exchange offer. These risks and uncertainties include, among others, the impact of current global economic, credit and market conditions; current local economic conditions in the metropolitan areas in which we operate; 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, including Telx; the suitability of our properties and data center infrastructure, delays or disruptions in connectivity, failure of our physical and information security 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; 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 for the year endedDecember 31, 2015.  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.

Contact Information

Andrew P. Power

John J. Stewart

Chief Financial Officer

Senior Vice President, Investor Relations

Digital Realty Trust, Inc.

Digital Realty Trust, Inc.

+1 (415) 738-6500

+1 (415) 738-6500

SOURCE Digital Realty Trust, Inc.

PR Archives: Latest, By Company, By Date