Shearman And Sterling

News July 17, 2015

Shearman & Sterling Advises on Bridge Financing for Digital Realty’s $1.85 Billion Acquisition of Telx

Shearman & Sterling represented Citibank, N.A. as administrative agent and joint lead arranger in connection with $1.85 billion in bridge financing commitments for Digital Realty Trust, L.P.’s pending acquisition of Telx, a national provider of data center colocation, interconnection and cloud enablement solutions. 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 130 locations globally that are leased to tenants in the telecommunications infrastructure and technology sectors. As of March 31, 2015, Telx (privately held) managed 1.3 million square feet of data center space operating out of 20 facilities across the country, of which two are Telx-owned, 11 are leased from Digital Realty, one is partially subleased from Digital Realty and an unrelated third party, and six are leased from third parties.

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