01—Abstract
Summary
Summary of the 8-K filed November 12, 2025. Cited figures are marked; the original filing is the authoritative source.
Digital Realty Trust (DLR) announced on November 12, 2025 that its wholly owned indirect finance subsidiary, Digital Euro Finco, LLC, priced two euro-denominated senior unsecured guaranteed note offerings totaling €1.4 billion: €600 million of 3.750%a Guaranteed Notes due January 15, 2033, priced at 99.935% of principal, and €800 million of 4.250% Guaranteed Notes due November 20, 2037, priced at 99.364% of principal.
The notes are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and its operating partnership, Digital Realty Trust, L.P., and settlement is expected on November 20, 2025, subject to customary closing conditions. The offering was made only outside the United States under Regulation S. From an investor standpoint, the transaction diversifies Digital Realty's funding sources into the European debt market and extends its debt maturity profile to 2033 and 2037.
The issue prices are slightly below par, which implies that the effective yields to investors are modestly above the stated coupons. The company intends to allocate an amount equal to the net proceeds to finance or refinance eligible green projects under its Green Bond Framework, and until allocation, proceeds may be used to temporarily repay revolving credit facility borrowings, fund acquisitions and development, or for general corporate purposes, including debt or equity repurchases and redemptions. The filing does not disclose the total net proceeds in U.S. dollars, the company's leverage impact, or any change to guidance.
Because the notes are guaranteed by the parent and operating partnership, credit exposure is effectively at the consolidated level. The filing is a routine financing disclosure rather than a material change to the company's operating or financial outlook.
02—Key points
Key Highlights
- Priced €1.4 billion in total guaranteed senior unsecured notes: €600 million 3.750% notes due 2033 and €800 million 4.250% notes due 2037.
- Issue prices of 99.935% (2033 Notes) and 99.364% (2037 Notes) imply yields modestly above the stated coupons for investors.
- Notes are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and Digital Realty Trust, L.P., giving the parent-level credit support.
- Offering was conducted only outside the United States under Regulation S, so the notes were not registered under the Securities Act.
- Net proceeds are intended to fund eligible green projects under the company's Green Bond Framework, including development and redevelopment.
- Pending allocation, proceeds may temporarily repay revolver borrowings, fund acquisitions and development, or support general corporate purposes.
- Settlement is expected November 20, 2025, subject to customary closing conditions.
03—Questions
Frequently Asked Questions
What did Digital Realty announce?
Digital Euro Finco, LLC, a wholly owned indirect finance subsidiary of the operating partnership, priced €600 million of 3.750% Guaranteed Notes due 2033 and €800 million of 4.250% Guaranteed Notes due 2037.
Who guarantees the notes?
The notes are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and Digital Realty Trust, L.P. (the operating partnership).
How will the proceeds be used?
The company intends to allocate an amount equal to the net proceeds to eligible green projects under its Green Bond Framework. Until then, proceeds may repay revolver borrowings, fund acquisitions and development, or support general corporate purposes, including debt or equity repurchases.
When will the offering close?
Settlement is expected on November 20, 2025, subject to customary closing conditions. The filing does not guarantee that closing will occur on these terms.
Why does this matter for investors?
The deal diversifies Digital Realty's funding into euro markets and extends its maturity profile to 2033 and 2037. The filing does not disclose dollar proceeds or leverage effects, so the financial impact on credit metrics cannot be fully assessed from this document alone.
04—Continue