Digital Realty Refinances and Upsizes Revolving Credit Facilities to $4.5 Billion

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Sep 30, 2024, 07:00 ET

AUSTIN, Texas, Sept. 30, 2024 /PRNewswire/ -- Digital Realty (NYSE: DLR), the leading global provider of cloud- and carrier-neutral data center, colocation, and interconnection solutions, announced today that it has amended, extended and upsized its existing $3.75 billion senior unsecured multi-currency global revolving credit facility to $4.2 billion.

The maturity date of the global revolving credit facility was extended by three years and total availability was expanded by $450 million. The $4.2 billion global revolving credit facility now matures in January 2029 and has two six-month extension options, subject to certain conditions. In addition, Digital Realty has the ability to increase the global revolving credit facility by up to $1.8 billion, including incremental term loan capacity.

The Company also amended, extended, and upsized its existing Japanese yen-denominated senior unsecured revolving credit facility. The original ¥33.285 billion facility has increased to ¥42.511 billion (approximately $297 million), while the maturity date was extended by three years. The ¥42.511 billion revolving credit facility matures in January 2029 and has two-six-month extension options, subject to certain conditions. Pricing for the ¥42.511 billion facility, based on the Company's BBB / Baa2 senior unsecured debt rating, is 50 basis points over the applicable index for floating rate advances. Digital Realty also has the ability to increase this credit facility up to an additional ¥60 billion (approximately $418 million), including incremental term loan capacity.

The revolving credit facilities continue to feature a sustainability-linked pricing component whereby pricing is subject to adjustment based on annual performance targets, further demonstrating the Company's continued leadership and commitment to ESG.

"We were very pleased by the strong support we received from the global lending community for the refinancing of our existing revolving credit facilities" said Matt Mercier, Digital Realty's Chief Financial Officer. "The refinancing was well oversubscribed, with commitments from an extensive collection of world class financial institutions. The refinancing demonstrates the institutional lender community's continued confidence in our balance sheet and renewed sponsorship of our global data center platform, while providing us with increased financial flexibility as we continue to prudently invest in the growth of our global portfolio."

Funds from the combined facilities may be drawn in U.S., Canadian, Singapore, Australian and Hong Kong dollars, as well as euro, pound sterling, Swiss francs, Japanese yen, Indonesian rupiah, and Korean won denominations.

"We would like to acknowledge the efforts of BofA Securities, Inc., Citibank, N.A., and JPMorgan Chase Bank, N.A. in their capacity as joint lead arrangers and joint book running managers, which led to the successful syndication of the global revolver," added Michael P. Brown, Digital Realty's Senior Vice President, Treasury. "We would also like to extend our gratitude to the entire bank group for their overwhelming support. In addition, we would like to acknowledge Sumitomo Mitsui Banking Corporation, MUFG Bank, LTD, and Mizuho Bank, LTD's efforts in their capacity as joint lead arrangers and joint book running managers of the Japanese Yen facility."

About Digital Realty
Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITAL®, the company's global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 50+ metros across 25+ countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and X.

For Additional Information

Matt Mercier
Chief Financial Officer
Digital Realty
+1 415 738 6500
[email protected]

Investor Relations
Jordan Sadler / Jim Huseby
Digital Realty
+1 737 281 0101
[email protected]

Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to use of the proceeds from the facilities, maturity dates and extension options, and ability to increase the facilities. For a list and description of risks and uncertainties, please see the Company's reports and other filings with the U.S. Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Digital Realty