Digital Realty Trust, a leading global provider of data centre solutions, has announced that it closed a new US$750 million U.S. dollar equivalent Senior Unsecured Multicurrency Term Loan. The term loan matures in April 2017 and can be increased to up to a total of approximately US$850 million U.S. dollar equivalent. Pricing is based on the Company's senior unsecured debt ratings and is currently 145 basis points over the applicable index for floating rate advances. Funds may be drawn in U.S, Singapore and Australian dollars, as well as Euro and Pound Sterling denominations with the option to add Hong Kong dollars and Yen upon an accordion exercise. The new term loan provides funds for acquisitions, repayment of indebtedness, development and redevelopment, working capital and general corporate purposes.
"We appreciate the lender confidence and strong demand for participation in our inaugural term loan, which was oversubscribed with commitments totaling nearly US$1.2 billion received from 21 financial institutions, including 4 new lenders," said A. William Stein, CFO and Chief Investment Officer for Digital Realty. "Our balance sheet strength and excellent lender relationships continue to provide access to multiple capital sources. This term loan aligns with the global reach of our business and further enhances our financial flexibility by providing us liquidity for potential acquisitions and development opportunities."
Source: Virtual Strategy