New Issue: Digital Realty prices $650 million 4.45% 10-year notes at 152 bps over Treasuries

By Cristal Cody

Tupelo, Miss., June 14 – Digital Realty Trust LP (Baa2/BBB/BBB) sold $650 million of 4.45% 10-year notes (Baa2/BBB/BBB) at 99.852 to yield 4.468%, or a spread of Treasuries plus 152 basis points, according to an FWP filing with the Securities and Exchange Commission on Thursday.

The notes will be guaranteed by Digital Realty Trust, Inc.

J.P. Morgan Securities LLC, BofA Merrill Lynch, SMBC Nikko Securities America, Inc., U.S. Bancorp Investments Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Jefferies LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC were the bookrunners.

Digital Realty Trust held fixed income investor calls on Wednesday.

Proceeds from the deal will be used to repay borrowings outstanding under the company’s operating partnerships’ global revolving credit facility and to acquire additional properties or businesses, to fund development opportunities, to provide for working capital and for other general corporate purposes.

The San Francisco-based company owns, acquires, develops and operates data centers.

Issuer:	Digital Realty Trust LP
Guarantor:	Digital Realty Trust, Inc.
Amount:	$650 million
Description:	Notes
Maturity:	July 15, 2028
Bookrunners:	J.P. Morgan Securities, BofA Merrill Lynch, SMBC Nikko Securities America, Inc., U.S. Bancorp Investments Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Jefferies LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SunTrust Robinson Humphrey, Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC
Co-managers:	BB&T Capital Markets and Raymond James & Associates, Inc.
Coupon:	4.45%
Price:	99.852
Yield:	4.468%
Spread:	Treasuries plus 152 bps
Call features:	Make-whole call at Treasuries plus 25 bps before April 15, 2028; thereafter at par
Trade date:	June 14
Settlement date:	June 21
Ratings:	Moody’s: Baa2
	S&P: BBB
	Fitch: BBB
Distribution:	SEC registered
Marketing:	Fixed income investor calls

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