Subsequent Events

3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

Subsequent Events

18. Subsequent Events

On April 5, 2012 and April 18, 2012, Digital Realty Trust, Inc. issued an aggregate of 7.3 million shares of its 6.625% Series F Cumulative Redeemable Preferred Stock for total net proceeds, after underwriting discounts and estimated offering expenses, of $175.8 million, including the proceeds from the partial exercise of the underwriters' over-allotment option. We intend to use the net proceeds from the offering to temporarily repay borrowings under our global revolving credit facility, to acquire additional properties, to fund development and redevelopment opportunities and for general working capital purposes including potentially for the repurchase, redemption or retirement of outstanding debt or preferred equity securities.

On April 17, 2012, we closed a new $750.0 million senior unsecured multi-currency term loan facility. The new facility matures on April 16, 2017. Interest rates are based on our senior unsecured debt ratings and is currently 145 basis points over the applicable index for floating rate advances. Funds may be drawn in U.S, Singapore and Australian dollars, as well as Euro and Pound Sterling denominations with the option to add Hong Kong dollars and Yen upon an accordion exercise. The new term loan provides funds for acquisitions, repayment of indebtedness, development and redevelopment, working capital and general corporate purposes. Covenants are consistent with our global revolving credit facility.

Effective April 17, 2012, Digital Realty Trust, Inc. converted all outstanding shares of its 4.375% Series C Cumulative Convertible Preferred Stock ("Series C Preferred Stock") into shares its of common stock in accordance with the terms of the Series C Preferred Stock. Each share of Series C Preferred Stock was converted into 0.5480 shares of common stock of Digital Realty Trust, Inc.

On April 23, 2012, we declared the following dividends per share and the Operating Partnership declared an equivalent distribution per unit:

Share Class	Series D Preferred Stock		Series E Preferred Stock		Series F Preferred Stock			Common stock and common unit
Dividend and distribution amount	$	0.343750	$	0.437500	$	0.395660	(1)	$	0.730000
Dividend and distribution payable date		June 29, 2012		June 29, 2012		June 29, 2012			June 29, 2012
Dividend payable to shareholders of record on		June 15, 2012		June 15, 2012		June 15, 2012			June 15, 2012
Annual equivalent rate of dividend and distribution	$	1.375	$	1.750	$	1.65625		$	2.920

(1) Represents a pro rata dividend from and including the original issue date to and including June 30, 2012.

Effective April 23, 2012, Richard A. Magnuson's term as a member of our Board of Directors and our Chairman ended and our Board of Directors selected Dennis E. Singleton, our director since 2004, to serve as the permanent Chairman of our Board of Directors.