Item 1.01. Entry into a Material Definitive Agreement.




On January 18, 2022, Digital Intrepid Holding B.V., an indirect wholly owned
holding and finance subsidiary of the operating partnership through which the
Interxion business is held, issued and sold €750,000,000 aggregate principal
amount of 1.375% Guaranteed Notes due 2032 (the "Euro Notes"). The Euro Notes
are senior unsecured obligations of Digital Intrepid Holding B.V. and are fully
and unconditionally guaranteed by Digital Realty Trust, Inc. and the operating
partnership. The Euro Notes were sold outside the United States in reliance on
Regulation S under the Securities Act of 1933, as amended (the "Securities
Act"). The Euro Notes have not been and will not be registered under the
Securities Act and may not be offered or sold within the United States or to
United States persons (within the meaning of Regulation S under the Securities
Act) absent registration or an applicable exemption from the registration
requirements.
The terms of the Euro Notes are governed by an indenture, dated as of
January 18, 2022, among Digital Intrepid Holding B.V., Digital Realty Trust,
Inc., the operating partnership, Deutsche Trustee Company Limited, as trustee,
Deutsche Bank AG, London Branch, as paying agent and a transfer agent, and
Deutsche Bank Luxembourg S.A., as registrar and a transfer agent (the
"Indenture"), a copy of which is attached hereto as Exhibit 4.1 and incorporated
herein by reference. The Indenture contains various restrictive covenants,
including limitations on our ability to incur additional indebtedness and
requirements to maintain a pool of unencumbered assets. The descriptions of the
Indenture, the Euro Notes and the guarantees in this report are summaries and
are qualified in their entirety by the terms of the Indenture, including the
forms of the Euro Notes included therein.
Net proceeds from the offering of the Euro Notes were approximately
€737.5 million after deducting managers' discounts and estimated offering
expenses. We intend to use the net proceeds from the Euro Notes to temporarily
repay borrowings outstanding under the operating partnership's global revolving
credit facilities, acquire additional properties or businesses, fund development
opportunities, invest in interest-bearing accounts and short-term,
interest-bearing securities which are consistent with Digital Realty Trust,
Inc.'s intention to qualify as a REIT for U.S. federal income tax purposes, and
to provide for working capital and other general corporate purposes, including
potentially for the repayment of other debt, or the redemption, repurchase,
repayment or retirement of outstanding equity or debt securities, or a
combination of the foregoing.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an


           Off-Balance
           Sheet Arrangement of a Registrant.

On January 18, 2022, Digital Intrepid Holding B.V., an indirect wholly owned holding and finance subsidiary of the operating partnership through which the Interxion business is held, issued and sold €750.0 million aggregate principal amount of the Euro Notes. The purchase price paid by the managers for the Euro Notes was 98.606% of the principal amount thereof. The Euro Notes bear interest at the rate of 1.375% per annum and will mature on July 18, 2032. Interest on the Euro Notes is payable on July 18 of each year beginning on July 18, 2022. The Euro Notes are senior unsecured obligations of Digital Intrepid Holding B.V. and rank equally in right of payment with all of Digital Intrepid Holding B.V.'s other existing and future senior unsecured and unsubordinated indebtedness. Digital Intrepid Holding B.V.'s obligations under the Euro Notes are fully and unconditionally guaranteed by Digital Realty Trust, Inc. and the operating partnership. -------------------------------------------------------------------------------- The Euro Notes are redeemable in whole at any time or in part from time to time, at Digital Intrepid Holding B.V.'s option, at a redemption price equal to the sum of:



     •    an amount equal to 100% of the principal amount of the Euro Notes to be
          redeemed plus accrued and unpaid interest up to, but not including, the
          redemption date; and



     •    a make-whole premium calculated in accordance with the terms of the
          Indenture.


Notwithstanding the foregoing, if any of the Euro Notes are redeemed on or after
90 days prior to the maturity date, the redemption price will not include a
make-whole premium.
All payments of principal and interest on the Euro Notes will be made free and
clear of and without withholding or deduction for or on account of any present
or future tax, assessment or other governmental charge imposed by the United
States or a political subdivision or taxing authority thereof or therein having
power to tax, unless the withholding of such tax, assessment or governmental
charge is required by law or the official interpretation or administration
thereof. In the event such withholding or deduction of taxes is required by law,
then, subject to certain exceptions, Digital Intrepid Holding B.V. will pay such
"additional amounts" necessary so that the net payment of the principal of and
interest on the Euro Notes to a holder who is not a United States person for
United States federal income tax purposes, including additional amounts, after
the withholding or deduction, will not be less than the amount provided in such
Euro Notes to be then due and payable.
If, due to certain changes in tax law, Digital Intrepid Holding B.V. has or will
become obligated to pay additional amounts on the Euro Notes or if there is a
substantial probability that Digital Intrepid Holding B.V. will become obligated
to pay additional amounts on the Euro Notes, then Digital Intrepid Holding B.V.
may, on giving not less than 15 days' nor more than 45 days' notice, at its
option, redeem the Euro Notes, in whole but not in part, at a redemption price
equal to 100% of the principal amount of the Euro Notes to be redeemed, together
with interest accrued and unpaid to the date fixed for redemption.
Certain events are considered events of default, which may result in the
accelerated maturity of the Euro Notes, including:

     •    a default for 30 days in payment of any installment of interest under the
          Euro Notes;



     •    a default in the payment of the principal amount or redemption price due
          with respect to the Euro Notes, when the same becomes due and payable;



     •    Digital Intrepid Holding B.V.'s, Digital Realty Trust, Inc.'s, or the
          operating partnership's failure to comply with any of their respective
          other agreements in the Euro Notes or the Indenture upon receipt by
          Digital Intrepid Holding B.V., Digital Realty Trust, Inc., or the
          operating partnership of notice of such default from the trustee or from
          holders of not less than 25% in aggregate principal amount of the Euro
          Notes then outstanding and Digital Intrepid Holding B.V.'s, Digital
          Realty Trust, Inc.'s, or the operating partnership's failure to cure (or
          obtain a waiver of) such default within 90 days after receipt of such
          notice;



     •    failure to pay any indebtedness (other than
          non-recourse
          indebtedness) that is (a) of Digital Intrepid Holding B.V., Digital
          Realty Trust, Inc., the operating partnership, any subsidiary in which
          the operating partnership has invested at least $125,000,000 in capital,
          which we refer to as a Significant Subsidiary, or any entity in which the
          operating partnership is the general partner, and (b) in an outstanding
          principal amount in excess of $125,000,000 at final maturity or upon
          acceleration after the expiration of any applicable grace period, which
          indebtedness (other than
          non-recourse
          indebtedness) is not discharged, or such default in payment or
          acceleration is not cured or rescinded, within 60 days after written
          notice to Digital Intrepid Holding B.V. from the trustee (or to Digital
          Intrepid Holding B.V. and the trustee from holders of at least 25% in
          principal amount of the outstanding Euro Notes); or



     •    certain events of bankruptcy, insolvency or reorganization, or court
          appointment of a receiver, liquidator or trustee of Digital Intrepid
          Holding B.V., Digital Realty Trust, Inc., the operating partnership or
          any Significant Subsidiary or any substantial part of their respective
          property.

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Item 9.01. Financial Statements and Exhibits.




(d) Exhibits.

Exhibit
  No.                                    Description

4.1           Indenture, dated as of January 18, 2022, among Digital Intrepid
            Holding B.V., Digital Realty Trust, Inc., Digital Realty Trust, L.P.,
            Deutsche Trustee Company Limited, as trustee, Deutsche Bank AG, London
            Branch, as paying agent and a transfer agent, and Deutsche Bank
            Luxembourg S.A., as registrar and a transfer agent, including the form
            of the 1.375% Guaranteed Notes due 2032.

104         Cover Page Interactive Data File (embedded within the Inline XBRL
            document).

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