Digital Realty Trust, Inc. (NYSE: DLR) said that, together with its operating partnership subsidiary, Digital Realty Trust, L.P., it has commenced a registered exchange offer.
Planned is an exchange of up to USD500 million aggregate principal amount of the Operating Partnership´s 3.400 percent notes due 2020 and USD450 million aggregate principal amount of the Operating Partnership´s 4.750 percent notes due 2025, for any and all of the Operating Partnership´s outstanding 3.400 percent Notes due 2020 and 4.750 percent notes due 2025, which were issued in a private placement in October 2015.
The Private Notes and the Exchange Notes are the senior unsecured obligations of the Operating Partnership and are fully and unconditionally guaranteed by the company.
The sole purpose of the exchange offer is to fulfill the obligations of the company and the Operating Partnership with respect to the exchange of the Private Notes and related guarantees for the Exchange Notes and related guarantees.
The exchange offer will expire at 5:00 p.m., New York City time, on March 8, 2016, unless extended. Private Notes tendered pursuant to the exchange offer may be withdrawn at any time prior to the expiration date by following the procedures set forth in the exchange offer prospectus dated February 5, 2016.