Thursday, Digital Realty Trust Inc. (DLR) said its operating partnership subsidiary, Digital Realty Trust, L.P., priced a private placement of $500 million aggregate principal amount of 5.875% Notes due 2020 at 98.296% of face value. The Notes will be senior unsecured obligations of the Operating Partnership and will be fully and unconditionally guaranteed by the company.
Digital Realty Trust, L.P. intends to utilize the net proceeds from the offering to temporarily repay all or a portion of its borrowings under its revolving credit facility, to acquire additional properties, to fund development and redevelopment opportunities and for general corporate purposes. It also intends to reborrow 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.
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