Shearman & Sterling represented Citibank, N.A. as administrative agent and joint lead arranger in connection with $1.4 billion in senior unsecured bridge financing commitments and $104 million in secured financing commitments for Digital Realty Trust, L.P.’s pending acquisition of DuPont Fabros Technology, Inc. (Ticker: DFT). The all-stock transaction has an enterprise value of $7.6 billion.
DuPont Fabros Technology, Inc. is a national provider of data center colocation, interconnection and cloud enablement solutions in three major U.S. markets, including the Silicon Valley and Northern Virginia. Digital Realty Trust (Ticker: DLR) is a Menlo Park, California-based wholesale colocation service company and the world's largest data center solutions provider with over 145 locations globally that are leased to tenants in the telecommunications infrastructure and technology sectors.
The Shearman & Sterling team included partner Malcolm K. Montgomery (New York-Real Estate) and associates Elizabeth Martialay, Andrew Smook (both New York-Real Estate) and Stephen Sainato (New York-Corporate).