Equinix Prices $2.6 Billion in Bonds, Including $1.0 Billion in Green Bonds to Advance Sustainability Initiatives

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[{"type":"text","content":"REDWOOD CITY, Calif., May 4, 2021 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company, today announced that it priced $2.6 billion principal amount of notes, including $1.0 billion of green bonds in its third green bond offering. The green bonds will be used to help advance the company's longstanding commitment to sustainability leadership and reducing its environmental impact. The offering is expected to close on May 17, 2021, subject to the satisfaction of customary closing conditions.\nThe $700 million 1.450% Senior Notes due 2026, $400 million 2.000% Senior Notes due 2028, $1.0 billion 2.500% Senior Notes due 2031, and $500 million 3.400% Senior Notes due 2052, have a weighted average coupon of 2.313%. A portion of the proceeds will be used to refinance our 5.375% Senior Notes due 2027 and a portion of our Term Loan Facility, which we expect to result in approximately $38 million of annual interest savings. This will further improve Equinix's weighted average cost of debt of 2.06% and extend its weighted average debt maturity of 8.2 years, as reported for the period ending March 31, 2021.\nEquinix intends to allocate an amount equal to the net proceeds from the green bonds to finance or refinance, in whole or in part, recently completed or future Eligible Green Projects, with disbursements covering project expenditures for up to two years preceding the issuance date of the green bonds and until and including the maturity date of the green bonds, including the development and redevelopment of such projects. \nPending the allocation of an amount equal to the net proceeds from the offering of the green bonds to Eligible Green Projects, we expect to temporarily use the net proceeds from the offering of the green bonds for the repayment of a portion of our Term Loan Facility and the redemption our 5.375% Senior Notes due 2027, including the payment of the premium and accrued and unpaid interest to the redemption date.\nFor the offering of the notes, BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, MUFG Securities Americas Inc. and SMBC Nikko Securities America, Inc. served as joint bookrunning managers.\nHighlights/Key Facts\nEquinix has developed a Green Finance Framework based on the Green Bond Principles and Green Loan Principles, a set of guidelines that promote ...

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