Digital Realty Closes CHF510 Million Swiss Bond Offering
Digital Realty issued three tranches of Swiss franc bonds totaling CHF510 million, maturing in 2029, 2032, and 2036.
Digital Realty Trust (NYSE: DLR), the Austin, Texas-based data center giant, announced Tuesday the closing of a CHF510 million Swiss bond offering through its indirect finance subsidiary, Digital Constellation B.V., marking a significant capital markets move in European debt markets.
The offering was structured across three tranches: CHF225 million in bonds carrying a 1.6803% coupon rate due in 2029, CHF185 million at 2.0600% maturing in 2032, and CHF100 million at 2.4150% with a 2036 maturity date. The staggered maturities spread the company's repayment obligations across a decade.
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Digital Constellation B.V. functions as an indirect wholly-owned finance subsidiary of Digital Realty's operating partnership, Digital Realty Trust, L.P. The structure is a common vehicle multinational real estate investment trusts use to access non-dollar debt markets and diversify their investor base.
Digital Realty operates as one of the world's largest providers of carrier- and cloud-neutral data center, colocation, and interconnection services. Tapping the Swiss franc bond market allows the company to broaden its funding sources beyond U.S. capital markets at a time when demand for data center capacity continues to accelerate globally.
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