Digital Realty Trust Announces Proposed Offering of Common Stock
SAN FRANCISCO, July 15 /PRNewswire-FirstCall/ -- DIGITAL REALTY TRUST, INC. (NYSE: DLR) today announced that it plans to sell 5,000,000 shares of its common stock in an underwritten public offering. Digital Realty Trust also plans to grant the underwriters an option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any. All of the shares will be offered by Digital Realty Trust and will be issued under Digital Realty Trust's currently effective shelf registration statement filed with the Securities and Exchange Commission.
Digital Realty Trust intends to utilize the net proceeds from the offering to temporarily repay all or a portion of its borrowings under its revolving credit facility, to acquire additional properties, to fund development and redevelopment opportunities and for general corporate purposes. Digital Realty Trust intends to reborrow amounts under its revolving credit facility from time to time to acquire additional properties, to fund development and redevelopment opportunities and for general corporate purposes.
Citi, Credit Suisse Securities (USA) LLC and Merrill Lynch & Co. will serve as joint book running managers, and Banc of America Securities LLC, Deutsche Bank Securities Inc., KeyBanc Capital Markets Inc., Raymond James & Associates, Inc., RBC Capital Markets and UBS Investment Bank will serve as co-managers, for the offering. A preliminary prospectus supplement and final prospectus supplement related to the public offering will be filed with the Securities and Exchange Commission. Copies of the preliminary prospectus supplement and final prospectus supplement, when available, may be obtained from Citi (Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220), Credit Suisse Securities (USA) LLC (Prospectus Department, One Madison Avenue, New York, NY 10010) or Merrill Lynch & Co., (250 Vesey Street, New York, NY 10080).
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.
Digital Realty Trust owns, acquires, develops, redevelops and manages technology-related real estate. Digital Realty Trust's 74 properties as of June 30, 2008, excluding one property held through an investment in an unconsolidated joint venture, contain applications and operations critical to the day-to-day operations of technology industry and corporate enterprise datacenter tenants. Comprising approximately 12.9 million rentable square feet, including 2.0 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 26 markets throughout North America and Europe.
For Additional Information:
A. William Stein Pamela A. Matthews
Chief Financial Officer and Investor/Analyst Information
Chief Investment Officer Digital Realty Trust, Inc.
Digital Realty Trust, Inc. +1 415-738-6500
+1 415-738-6500
SOURCE Digital Realty Trust, Inc.