Business Context and Reporting Period
Company: Digital Realty Trust, Inc. and Digital Realty Trust, L.P.
Filing Type: Form 8-K (Current Report)
Date of Report: June 12, 2013
Primary Event: Regulation FD Disclosure regarding an adjustment to the exchange rate for the operating partnership's 5.50% Exchangeable Senior Debentures due 2029.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity figures. The report focuses exclusively on a specific debt instrument adjustment.
| Instrument | Detail |
|---|---|
| 5.50% Exchangeable Senior Debentures due 2029 | Exchange Rate: 25.0900 shares per $1,000 principal amount (as of June 12, 2013) |
Material Changes
The material change disclosed is the adjustment of the exchange rate for the 5.50% Exchangeable Senior Debentures due 2029. A Notice of Adjustment to Exchange Rate was distributed to holders on or around June 12, 2013.
Guidance, Outlook, and Risks
Forward-Looking Statements: The filing includes standard disclaimers regarding forward-looking statements, noting that actual results may differ due to risks and uncertainties.
Identified Risks: The company lists numerous risks, including:
- Deterioration in global economic, credit, and market conditions (including U.S. government credit rating downgrades).
- Decreases in information technology spending and economic slowdowns.
- Tenant concentration risks, bankruptcy, or lease defaults.
- Financing risks, including interest rate increases and refinancing challenges.
- Operational risks related to data center infrastructure, power availability, and connectivity.
- Regulatory and tax risks, including REIT status maintenance.
Investor Verification Checklist
- Verify the specific terms of the "Notice of Adjustment to Exchange Rate" attached as Exhibit 99.1.
- Confirm the impact of the new exchange rate (25.0900 shares per $1,000) on the conversion value of the 5.50% Exchangeable Senior Debentures due 2029.
- Review the most recent Form 10-K (year ended Dec 31, 2012) and Form 10-Q (quarter ended March 31, 2013) for comprehensive financial performance data not included in this 8-K.