Digital Realty Trust to repay 2012 debt maturities with new facility

By Aleesia Forni

Columbus, Ohio, Oct. 27 - Digital Realty Trust Inc. reported total debt of $2.8 billion as of Sept. 30 and plans to repay its debt maturities in 2012 with its new $1.5 billion expanded revolving credit facility.

At the end of the day on Wednesday, the company's balance on its $750 million credit facility and its $100 million Asia Pacific revolving credit facility was $139.2 million net of unrestricted cash.

The company's total assets grew to $5.8 billion as of Sept. 30, up from $5.7 billion at June 30.

Stockholders' equity was $2.5 billion at Sept. 30.

"While maintaining a strong balance sheet," the company "reduced our overall cost of capital" by exchanging the remaining $48.3 million aggregate principal amount of its 4.125% exchangeable senior debentures for stock and cash, chief financial officer A. William Stein said during the company's third-quarter conference call on Thursday.

Proceeds from the company's issuance of approximately 4.1 million shares of common stock, totaling $237.6 million, were used in part to repay borrowings under the company's existing revolving credit facility, acquisitions and general corporate purposes.

The company reported net income for the quarter of $37.7 million.

Digital Realty Trust is a San Francisco-based real estate investment trust and data solutions provider.

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