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Msg  320 of 359  at  3/5/2019 9:00:00 AM  by

passandshoot


Digital Realty Announces Pricing of Preferred Stock Offering

SAN FRANCISCO, March 4, 2019 /PRNewswire/ -- Digital Realty (NYSE: DLR), a leading global provider of data center, colocation and interconnection solutions, announced today the pricing of an underwritten public offering of 8,000,000 shares of 5.850% Series K Cumulative Redeemable Preferred Stock with a liquidation preference of $25.00 per share for gross proceeds of $200 million. The company has also granted the underwriters a 30‐day option to purchase from the company up to an additional 1,200,000 shares solely to cover over-allotments.

The preferred stock offering is expected to close on March 13, 2019, subject to customary closing conditions.

The company intends to use the net proceeds from the offering of the preferred stock to repay borrowings outstanding under the operating partnership's global revolving credit facility, acquire additional properties or businesses, fund development opportunities, and to provide for working capital and other general corporate purposes, including potentially for the repayment of other debt or the repurchase, redemption, or retirement of outstanding debt securities or preferred stock, or a combination of the foregoing. 

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are the joint book-running managers for the preferred stock offering. 



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321 Re: Digital Realty Announces Pricing of Preferred Stock Offering ContraIndicator 0 3/7/2019 12:18:57 AM


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