Digital Realty Refinances, Upsizes Revolving Credit Facilities to $4.5B
Digital Realty has amended, extended and upsized its existing $3.75 billion senior unsecured multi-currency global revolving credit facility to $4.2 billion.
The maturity date of the credit facility was extended by three years and total availability was expanded by $450 million. The $4.2 billion facility now matures in January 2029 and has two six-month extension options. In addition, Digital Realty can increase the facility by up to $1.8 billion, including incremental term loan capacity.
The Austin, TX-based provider of data center solutions, also amended, extended, and upsized its existing Japanese yen-denominated senior unsecured revolving credit facility. The original ¥33.285 billion facility has increased to ¥42.511 billion (about $297 million), while the maturity date was extended by three years.
The facility matures in January 2029 and has two-six-month extension options. Pricing for the facility, based on the company’s BBB / Baa2 senior unsecured debt rating, is 50 basis points over the applicable index for floating rate advances. Digital Realty also can increase the facility up to an additional ¥60 billion (approximately $418 million), including incremental term loan capacity.
“The refinancing demonstrates the institutional lender community’s continued confidence in our balance sheet and renewed sponsorship of our global data center platform, while providing us with increased financial flexibility as we continue to prudently invest in the growth of our global portfolio,” said Matt Mercier, CFO, Digital Realty.
Funds from the combined facilities may be drawn in U.S., Canadian, Singapore, Australian and Hong Kong dollars, as well as euro, pound sterling, Swiss francs, Japanese yen, Indonesian rupiah, and Korean won denominations.
