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A DuPont Fabros holding. Photo by DuPont Fabros

WASHINGTON, DC–Data center REITs Digital Realty, based in San Francisco, and DuPont Fabros in Washington, DC, have announced they are merging in an all-stock transaction worth $7.6 billion.

Under the terms of the agreement, DuPont Fabros shareholders will receive 0.545 Digital Realty shares for each DuPont Fabros share they own. The deal includes $1.6 billion of assumed debt and Digital Realty has secured a bridge loan facility from BofA Merrill Lynch and Citigroup to finance the transaction if necessary. This debt will be permanently refinanced via a combination of investment grade corporate bonds and other transactions.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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