(WEB HOST INDUSTRY REVIEW) — Partly to fund the acquisition of additional properties, data center real estate firm Digital Realty Trust (www.digitalrealtytrust.com) announced today that its operating partnership subsidiary, Digital Realty Trust, L.P., will issue a private placement of notes due 2020, subject to customary conditions.
According to its Thursday announcement, the senior unsecured notes are fully and unconditionally guaranteed by the company, and the interest rate and offering price are to be negotiated. Digital Realty Trust plans to use the net proceeds to temporarily repay all or some of its borrowings under its revolving credit facility, to acquire additional properties, to fund development and redevelopment opportunities and for general corporate purposes.
Digital Realty Trust also intends to re-borrow amounts under its revolving credit facility from time to time to acquire additional properties, to fund development and redevelopment opportunities and for general corporate purposes.
The notes will be sold to qualified institutional buyers in compliance with Rule 144A under the Securities Act of 1933, and outside the US under Regulation S.
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