QTS Realty Trust starts roadshow for $250 million eight-year notes

By Paul A. Harris

Portland, Ore., July 10 – QTS Realty Trust, Inc. started a roadshow on Thursday for a $250 million offering of eight-year senior notes (/B+/), according to a market source.

The New York roadshow gets underway at 12:30 p.m. ET on Monday. An investor call is scheduled to start at 12:40 p.m. ET on Monday.

The roadshow wraps up on Wednesday, and the deal is scheduled to price later that day or on the following day.

Deutsche Bank Securities Inc. is the left bookrunner. BofA Merrill Lynch, KeyBank Capital Markets, Goldman Sachs & Co., Jefferies LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunners.

PNC Capital Markets, RBS Securities Inc., Regions, Stifel Financial Corp. and TD Securities are the co-managers.

The Rule 144A with registration rights notes come with three years of call protection and feature a three-year 35% equity clawback and a 101% poison put.

The issuing entities will be subsidiaries QualityTech LP and QTS Finance Corp.

The Overland Park, Kan.-based owner, developer and operator of multi-tenant data centers plans to use the proceeds to repay debt.

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