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.