Digital Realty announces 10.5M share common stock offering

Digital Realty announced that it has commenced an underwritten registered public offering to sell 10.5M shares of its common stock. The company intends to contribute the net proceeds from this offering to its operating partnership, which will subsequently use the net proceeds received from the company to temporarily repay borrowings outstanding under its operating partnership’s global revolving credit facilities, acquire additional properties or businesses, fund development opportunities, and to provide for working capital and other general corporate purposes, including potentially for the repayment of other debt or the repurchase, redemption or retirement of outstanding debt securities, or a combination of the foregoing. BofA Securities, Citigroup Global Markets Inc. and J.P. Morgan Securities will act as joint book-running managers for the public offering.