Digital Realty enters new $100 million Asia Pacific revolving loan

By Jennifer Chiou

New York, Aug. 22 - Digital Realty Trust, Inc. announced that it closed on a $100 million dollar-equivalent senior unsecured revolving credit facility with a syndicate of four banks.

According to a news release, funds under the new facility may be initially drawn in Singapore and Australian dollars, with the ability to add Hong Kong dollars in the future.

The facility matures in August 2012 and can be increased to up to about $200 million U.S. dollar equivalent. The release added that pricing is based on the public debt ratings of the company's operating partnership, currently 120 basis points over the applicable BBSY and Sibor indexes.

Digital Realty said that covenants are consistent with its existing $750 million revolving credit facility.

The San Francisco provider of data center services said that proceeds will be used to provide funds for acquisitions, development, redevelopment, repayment of debt, working capital and general corporate purposes in the Asia Pacific region.

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