Wednesday, October 18, 2017

Equinix announces proposed public offering of €750m of senior notes

Equinix (Nasdaq: EQIX) has announced that it intends to offer, subject to market and other conditions, €750m in aggregate principal amount of its senior notes due 2025 (the “notes”) in a transaction registered under the Securities Act of 1933, as amended (the “Notes Offering”).

The Notes Offering will be made only by means of a prospectus supplement and the accompanying prospectus under Equinix’s effective shelf registration statement.

The notes will be Equinix’s general senior obligations, and will rank equal in right of payment to all of its existing and future senior indebtedness.

The interest rate, offering price and other terms of the notes will be determined by Equinix and the underwriters of the Notes Offering.

Equinix intends to use approximately €430.6m (or approximately $512.2m) of the net proceeds of the Notes Offering to redeem all of its outstanding 4.875% senior notes due 2020 (the “2020 Notes”) pursuant to the optional redemption provisions of the 2020 Notes, and the balance for general corporate purposes, which may include repayment of indebtedness, capital expenditures, working capital and acquisitions of complementary businesses or assets.

Barclays, BofA Merrill Lynch, J.P. Morgan and ING are acting as joint book-running managers, and RBC Capital Markets, Citigroup, TD Securities, HSBC, MUFG, Goldman Sachs & Co. LLC, US Bancorp and Wells Fargo Securities are acting as co-managers for the Notes Offering.