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Digital Realty Announces Expiration of Tender Offer for Any and All of Digital Realty Trust, L.P.’s Outstanding 3.400% Notes Due 2020 and 5.250% Notes Due 2021
San Francisco, CA – June 14, 2019 – Digital Realty Trust, Inc. (NYSE: DLR) (“Digital Realty”) announced today the expiration of the previously announced cash tender offer (the “Offer”) by Digital Realty Trust, L.P. (the “Issuer”), its operating partnership subsidiary, for any and all of its outstanding 3.400% notes due 2020 (CUSIP No. 25389JAN6) (the “2020 Notes”) and any and all of its outstanding 5.250% notes due 2021 (CUSIP No. 25389JAJ5) (the “2021 Notes,” and together with the 2020 Notes, the “Notes”). The Offer expired at 5:00 p.m., New York City time, on Friday, June 14, 2019 (the “Expiration Date”). As of the expiration of the Offer, $445,863,000 or 89.17% of the $500,000,000 aggregate principal amount of the 2020 Notes and $283,405,000 or 70.85% of the $400,000,000 aggregate principal amount of the 2021 Notes had been validly tendered and not withdrawn in the Offer. The Issuer accepted for purchase all of the Notes validly tendered and delivered (and not validly withdrawn) in the Offer at or prior to the Expiration Date. Payment for the Notes purchased pursuant to the Offer is intended to be made on June 17, 2019 (the “Settlement Date”) or June 19, 2019 (the “Guaranteed Delivery Settlement Date”), as applicable.
The consideration to be paid under the Offer will be $1,013.38 per $1,000 principal amount of 2020 Notes and $1,044.01 per $1,000 principal amount of 2021 Notes, plus accrued and unpaid interest to, but not including, the Settlement Date or Guaranteed Delivery Settlement Date, as applicable. The total Offer consideration of $754,708,957.22, including accrued and unpaid interest, will be funded from a portion of the net proceeds from the previously announced issuance and sale by the Issuer of its U.S. dollar-denominated 3.600% Notes due 2029.
The Offer was made pursuant to the Issuer’s Offer to Purchase dated June 10, 2019 and Notice of Guaranteed Delivery. J.P. Morgan Securities LLC acted as Dealer Manager for the Offer. This press release is neither an offer to purchase nor a solicitation to buy any of the Notes nor is it a solicitation for acceptance of the Offer.
The Issuer intends to redeem all of the Notes that have not been tendered in the Offer and the anticipated redemption date will be July 17, 2019.
About Digital Realty
Digital Realty supports the data center, colocation and interconnection strategies of more than 2,000 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Latin America, Asia and Australia. Digital Realty’s clients include domestic and international companies of all sizes, ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare and consumer products.