SAN FRANCISCO, Aug. 22, 2011 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a global provider of data center solutions, today announced that it closed a new $100 million US dollar equivalent senior unsecured revolving credit facility with a syndicate of four banks. Under the terms of the new facility, funds may be initially drawn in Singapore and Australian dollars, with the ability to add Hong Kong dollars in the future. The credit facility matures in August 2012 and can be increased to up to approximately $200 million US dollar equivalent. Pricing is based on the public debt ratings of the Company's operating partnership, which is currently 120 basis points over applicable BBSY and SIBOR indexes. Covenants are consistent with the Company's existing US$750 million revolving credit facility. The purpose of the new credit facility is to provide funds for acquisitions, development, redevelopment, repayment of debt, working capital and general corporate purposes in the Asia Pacific region.
"With the successful completion of this credit facility, we continue to solidify new and existing relationships with top-tier global institutions. We greatly appreciate the confidence and support of our lenders as we expand our business in the Asia Pacific region to meet the extraordinary demand from local and multinational customers for institutional-quality data center solutions," commented A. William Stein, CFO and Chief Investment Officer for Digital Realty Trust. "This credit facility helps us match non-US dollar denominated assets with liabilities to provide a natural hedge against currency fluctuations."
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. focuses on delivering customer driven data center solutions by providing secure, reliable and cost effective facilities that meet each customer's unique data center needs. Digital Realty Trust's customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty Trust's 97 properties, excluding two properties held as investments in unconsolidated joint ventures, comprise approximately 17.2 million net rentable square feet as of July 28, 2011, including 2.2 million square feet of space held for redevelopment. Digital Realty Trust's portfolio is located in 29 markets throughout Europe, North America, Singapore and Australia. Additional information about Digital Realty Trust is included in the Company Overview, which is available on the Investors page of 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 Asia Pacific revolving credit facility and expected use of the funds. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions including the downgrading of the U.S. government's credit rating; 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; risks associated with using debt to fund our business activities, including re-financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ratings 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 inability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully integrate and 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 reporting companies; our failure to maintain our status as a REIT; possible adverse changes to tax laws; restrictions on our ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; losses in excess of our insurance coverage; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in local, state and federal regulatory requirements, including 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, 2010 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011. 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 M. Garibaldi
Chief Financial Officer and
Vice President, Investor Relations
Chief Investment Officer
and Corporate Marketing
Digital Realty Trust, Inc.
Digital Realty Trust, Inc.
+1 (415) 738-6500
+1 (415) 738-6500
SOURCE Digital Realty Trust, Inc.