Summary
Digital Realty Trust, L.P. has successfully completed an underwritten public offering of $550 million in aggregate principal amount of 5.550% Senior Notes due 2028. These notes are general unsecured senior obligations, ranking equally with existing unsecured senior indebtedness but subordinated to secured debt and subsidiary liabilities. The offering, which closed on September 27, 2022, was made under an effective shelf registration statement and is fully and unconditionally guaranteed by the parent entity, Digital Realty Trust, Inc. Investors should note the terms of the indenture, which includes restrictive covenants regarding additional indebtedness and maintaining unencumbered assets. The company has the option to redeem the notes prior to maturity, with a "Par Call Date" feature allowing redemption at par plus accrued interest on or after one month before maturity. Key events of default are outlined, which could lead to accelerated maturity of the notes.
Key Highlights
- 1Completed a $550 million public offering of 5.550% Senior Notes due 2028.
- 2Notes are general unsecured senior obligations, guaranteed by Digital Realty Trust, Inc.
- 3The offering was conducted under an effective shelf registration statement.
- 4The indenture includes covenants on incurring additional debt and maintaining unencumbered assets.
- 5The company can redeem the notes prior to maturity under specific conditions, including a "Par Call" provision.
- 6Several events of default are defined, which could trigger accelerated payment of the notes.
- 7The issuance represents a material definitive agreement and the creation of a direct financial obligation.