Shearman & Sterling represented Citibank N.A., as administrative agent, in connection with a substantial upsizing of Digital Realty Trust’s global credit facility. The transaction increases the size of the credit facility by $750 million to $3.75 billion and transitions the facility from the London Interbank Offered Rate (LIBOR) to the Term Secured Overnight Financing Rate (Term SOFR) for floating rate borrowings denominated in U.S. dollars.
Digital Realty Trust, Inc. (Ticker: DLR) is the largest global provider of cloud-and-carrier-neutral data center, colocation and interconnection solutions. The company supports the data center, colocation and interconnection strategies of its customers with a global data center footprint of over 285 facilities in 50 metros across 26 countries on six continents. Digital Realty’s clients include domestic and international companies of all sizes, ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare and consumer products.
The Shearman & Sterling team below included Anthony Roselle.