DuPont Fabros Technology Inc., a real estate investment trust, said Friday its subsidiary DuPont Fabros Technology L.P. priced $550 million in senior notes due Dec. 15, 2017.
The notes will have an annual interest rate of 8.5 percent and will be used to pay down debt and complete work on two data centers.
The sale is subject to customary closing conditions.
DuPont Fabros owns, develops and operates data centers and tenants are mostly technology companies, such as Microsoft Corp.
Shares of the company rose 46 cents, or 2.7 percent, to $17.23 in afternoon trading.