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Digital Realty (DLR) Prices Euro 600M Guaranteed Notes

Digital Realty Trust Inc. DLR made the announcement of pricing of notes by Digital Euro Finco, LLC, a subsidiary of its operating partnership, Digital Realty Trust, L.P. The pricing of guaranteed notes offering of a principal amount of €600 million aggregate is anticipated to add to the liquidity strength of the San Francisco, CA-based real estate investment trust (“REIT”).

The interest on the guaranteed notes due in 2024 will be paid at a rate of interest of 2.625% per annum, payable yearly. Subject to the fulfillment of certain customary closing conditions, the offering is anticipated to close on Apr 15, 2016. Digital Realty has plans to utilize the net proceeds generated from this offering for temporary repayment of borrowing under its revolving credit facility.

Digital Realty is engaged in owning, acquiring, repositioning and managing technology-related real estate. The portfolio of the company includes applications and operations critical to the day-to-day operations of technology industry tenants.

Digital Realty currently carries a Zacks Rank #3 (Hold). Investors interested in the REIT industry may consider stocks like DCT Industrial Trust Inc. DCT, Easterly Government Properties, Inc. DEA and Douglas Emmett Inc DEI. Each of these stocks holds a Zacks Rank #2 (Buy).

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