Digital Realty launches $75 million perpetual preferred via Citigroup

By Paul A. Harris

St. Louis, Jan. 31 - Digital Realty Trust Inc. plans to sell $75 million of series A cumulative redeemable preferred stock this week, according to a syndicate source.

The shares will be marketed through Wednesday, the source added.

Citigroup has the physical books. UBS Investment Bank is the joint bookrunner. Merrill Lynch & Co. is the co-lead manager. Credit Suisse First Boston, McDonald Investments and SunTrust Robinson Humphrey are co-managers.

The company is offering 3 million shares for $75 par per share.

The notes will come with five years of call protection.

Proceeds will be used to repay the company's revolving credit facility, to acquire other properties and for general corporate purposes.

Digital Realty is a Menlo Park, Calif.-based real estate investment trust.

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