Digital Realty issues $1.15B of 1.875% exchangeable senior notes due 2029

DIGITAL REALTY TRUST, INC.

Issued $1.15B principal amount of 1.875% Exchangeable Senior Notes due Nov 15, 2029; includes $150M from full exercise of initial purchasers' option.
Initial exchange rate of 4.7998 shares per $1,000 principal, representing an initial exchange price of ~$208.34 per share of DLR common stock.
Interest payable semi-annually at 1.875%; notes redeemable at issuer's option from Nov 22, 2027 under certain liquidity and stock price conditions.
Guaranteed on a senior unsecured basis by Digital Realty Trust, Inc.; structurally subordinated to secured debt and subsidiary liabilities.
Registration rights agreement requires filing a resale registration statement for common shares issuable upon exchange, with additional interest penalties for delays.

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