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Equinix Inc Announces Pricing of $1.5 Billion Public Offering of Senior Notes

Thursday, 28 Feb 2013 11:39pm EST 

Equinix Inc announced that it has priced an offering of $500 million aggregate principal amount of its 4.875% senior notes due 2020 (the “2020 Notes”) and $1,000 million aggregate principal amount of its 5.375% senior notes due 2023 (the “2023 Notes,” and, together with the 2020 Notes, the “Notes”), an increase in combined aggregate principal amount from the $1 billion offering of notes previously announced. The offering is being made pursuant to an automatically effective shelf registration statement on file with the Securities and Exchange Commission (SEC). The offering is expected to close on March 5, 2013. 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. Interest will be payable semi-annually at a rate of 4.875% per year for the 2020 Notes and 5.375% per year for the 2023 Notes. The net proceeds to Equinix from this offering will be approximately $1.48 billion after deducting underwriting discounts and estimated offering expenses payable by it. Equinix intends to use the net proceeds from this offering to redeem its outstanding 8.125% Senior Notes due 2018 pursuant to the optional redemption provisions of such notes and for general corporate purposes, which may include capital expenditures, distributions to its stockholders in connection with its proposed conversion to a REIT, working capital and potential acquisitions and strategic transactions. 

Company Quote

3.28 +1.56%
1:13pm EDT