01—Abstract
Summary
Summary of the 8-K filed November 21, 2025. Cited figures are marked; the original filing is the authoritative source.
Digital Realty Trust, Inc. (DLR), through its wholly owned indirect finance subsidiary Digital Euro Finco, LLC, has successfully issued and sold €1.4 billion in aggregate principal amount of Euro-denominated senior unsecured notes.
This offering comprises €600 million of 3.750%a Guaranteed Notes due 2033 and €800 million of 4.250% Guaranteed Notes due 2037. The notes are fully and unconditionally guaranteed by DLR and its operating partnership, providing a strong credit backing for investors. The net proceeds from this offering are earmarked for financing or refinancing Eligible Green Projects, aligning with DLR's commitment to sustainability and environmental initiatives.
Pending allocation to these projects, the funds may be temporarily utilized for debt repayment under revolving credit facilities, property acquisitions, development funding, or general corporate purposes, including other debt repayment. The issuance diversifies DLR's debt maturity profile and currency exposure, while reinforcing its financial flexibility.
02—Key points
Key Highlights
- DLR's subsidiary, Digital Euro Finco, LLC, issued €1.4 billion in Euro-denominated notes (3.750% due 2033 and 4.250% due 2037).
- The Euro Notes are senior unsecured obligations fully and unconditionally guaranteed by Digital Realty Trust, Inc. and its operating partnership.
- Net proceeds are intended to fund or refinance Eligible Green Projects, demonstrating commitment to sustainability.
- Pending green project allocation, proceeds may be used for debt reduction, acquisitions, development, or general corporate purposes.
- The issuance offers a mix of long-term maturities (2033 and 2037) and Euro currency exposure.
- Indentures contain restrictive covenants, including limitations on additional indebtedness and requirements to maintain unencumbered assets.
- The notes include provisions for redemption, including a make-whole premium under certain conditions and an option to redeem due to tax law changes.
03—Questions
Frequently Asked Questions
What is the total amount of debt issued and what are the key terms?
Digital Realty Trust, Inc. (DLR) issued a total of €1.4 billion in Euro-denominated notes through its subsidiary, Digital Euro Finco, LLC. This includes €600 million of 3.750% Guaranteed Notes due 2033 and €800 million of 4.250% Guaranteed Notes due 2037. The notes are senior unsecured obligations and are guaranteed by DLR and its operating partnership.
How will the net proceeds from this note issuance be used?
The net proceeds are intended to finance or refinance Eligible Green Projects, which include initiatives related to renewable energy, energy efficiency, pollution prevention, sustainable land use, biodiversity, clean transportation, water management, climate adaptation, and green buildings. Pending allocation to these projects, the funds may be used for repaying borrowings under revolving credit facilities, acquisitions, development funding, or general corporate purposes.
What is the credit backing for these Euro Notes?
The Euro Notes are senior unsecured obligations of Digital Euro Finco, LLC, but they are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and its operating partnership. This guarantee provides investors with the creditworthiness of the parent company and its operating entity.
Are there any restrictions or covenants associated with these notes?
Yes, the Indentures governing these Euro Notes contain restrictive covenants. These include limitations on DLR's ability to incur additional indebtedness and requirements to maintain a pool of unencumbered assets, which are important for ensuring the company's financial stability and ability to meet its obligations.
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