Digital Realty greenshoe boosts 5.875% preferreds to $250 million

By Tali David

Minneapolis, April 9 -Underwriters for Digital Realty Trust Inc.'s 5.875% series G cumulative redeemable preferred stock offering partially exercised their over-allotment option, adding an additional $25 million, or 1 million shares, according to a press release.

The company priced $225 million, or 9 million shares, of the $25-par preferreds on April 2 with a greenshoe of 1.35 million shares for potential further proceeds of $33.75 million.

As previously reported, joint bookrunners are BofA Merrill Lynch, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC.

The San Francisco-based real estate investment trust will contribute proceeds to the operating partnership, which will use the funds to temporarily repay revolving credit facility borrowings, to acquire additional properties, to fund development opportunities and for general corporate purposes, including repurchasing or redeeming debt or preferred securities or a combination thereof.

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