Digital Realty Trust Inc. said $350.1 million, or 70.02%, of the $500 million principal amount of the 5.875% senior notes due 2020 issued by its operating partnership, Digital Realty Trust LP, were validly tendered at the Jan. 17 expiration of the tender offer.
Payment for the repurchased notes is expected on Jan. 18 or Jan. 23. The offer was priced at $1,022.81 for each $1,000 principal amount of the notes, plus accrued and unpaid interest up to, but not including, the settlement date, according to a release.
The company will use a portion of the proceeds from the operating partnership's issuance of €850 million in 2.500% guaranteed notes due Jan. 16, 2026, to fund the total repurchase consideration of nearly $367.7 million.
The notes not tendered during the offer are expected to be redeemed Feb. 19, the company added.