SAN FRANCISCO, June 29 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (the "Company") (NYSE: DLR) today announced that it has completed an amendment to its Revolving Credit Facility. The Revolving Credit Facility Amendment No. 3 provides the Company with the ability to add eligible unencumbered international assets to the borrowing base in support of its outstanding unsecured debt. International assets include properties located in the following countries: Canada, England, Ireland, Wales, France, Spain, the Netherlands, Singapore and Australia. Under the new amendment (subject to execution of an equivalent amendment to the Note Purchase and Private Shelf Agreement dated June 24, 2008, which the Company refers to as the Prudential shelf facility, which amendment is currently in process but the Company may not obtain), international assets may comprise up to 25% of the borrowing base, with assets located in Spain and Singapore limited to up to 10% of the borrowing base. Digital Realty Trust's borrowing base currently totals approximately $2.9 billion of unencumbered assets.
"The inclusion of international assets to the borrowing base provides Digital Realty Trust's unsecured lenders with the additional benefit of geographic and tenant concentration diversification," commented A. William Stein, CFO and Chief Investment Officer for Digital Realty Trust. "It also allows the Company to pursue an unsecured financing strategy in Europe and Asia similar to our financing strategy in the United States."
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. owns, acquires, redevelops, develops and manages technology-related real estate. The Company is focused on providing Turn-Key Datacenter® and Powered Base Building® datacenter solutions for domestic and international tenants across a variety of industry verticals ranging from information technology and Internet enterprises to manufacturing and financial services. Digital Realty Trust's 86 properties, excluding one property held as an investment in an unconsolidated joint venture, contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 15.2 million rentable square feet as of May 25, 2010, including 2.0 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 27 markets throughout North America and Europe. For additional information, please visit Digital Realty Trust's website at http://www.digitalrealtytrust.com.
Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the Company's revolving credit facility. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions; current local economic conditions in our geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in our industry or the industry sectors that we sell to (including risks relating to decreasing real estate valuations and impairment charges); our dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; our failure to obtain necessary debt and equity financing; increased interest rates and operating costs; our failure to repay debt when due or our breach of covenants or other terms contained in our loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; our ability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of our lack of control of such investments; delays or unexpected costs in development or redevelopment of properties; decreased rental rates or increased vacancy rates; increased competition or available supply of data center space; our inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; our inability to acquire off-market properties; our inability to comply with the rules and regulations applicable to public companies; our failure to maintain our status as a REIT; potential adverse changes to tax laws; restrictions on our ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in real estate and zoning laws and increases in real property tax rates. For a further list and description of such risks and uncertainties, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2009 and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2010. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For Additional Information:
A. William Stein
Pamela A. Matthews
Chief Financial Officer and
Chief Investment Officer
Digital Realty Trust, Inc.
Digital Realty Trust, Inc.
+1 (415) 738-6500
+1 (415) 738-6500
SOURCE Digital Realty Trust, Inc.