Simpson Thacher represented the underwriters, led by BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, MUFG Securities Americas Inc. and SMBC Nikko Securities America, Inc., in connection with the offering by Equinix, Inc. (the “Company”) of $700 million aggregate principal amount of its 1.45% Senior Notes due 2026 (the “2026 Notes”), $400 million aggregate principal amount of its 2% Senior Notes due 2028 (the “2028 Notes”), $1 billion aggregate principal amount of its 2.5% Senior Notes due 2031 (the “2031 Notes” or the “Green Notes”) and $500 million aggregate principal amount of its 3.4% Senior Notes due 2052 (the “2052 Notes”).
The Company intends to use the net proceeds from the offering of the 2026 Notes, the 2028 Notes, and the 2052 Notes, together with the net proceeds from the offering of the Green Notes, to repay approximately $642.7 million of the Company’s unsecured multicurrency term loan facility (the “Term Loan Facility”) and to fund the redemption of all of the Company’s outstanding $1.25 billion aggregate principal amount 5.375% Senior Notes due 2027. The Company expects to use the remaining net proceeds from the 2026 Notes, 2028 Notes and 2052 Notes for general corporate purposes. Pending such use, the Company may invest the net proceeds in short-term investments, including cash, cash equivalents and/or marketable securities. The Company intends to allocate an amount equal to the net proceeds from the offering of the Green Notes 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 Notes and until and including the maturity date of the Green Notes, including the development and redevelopment of such projects. Pending the allocation of an amount equal to the net proceeds from the offering of the Green Notes to eligible green projects, the Company expects to temporarily use the net proceeds from the offering of the Green Notes for the repayment of a portion of its Term Loan Facility and the redemption of its 5.375% Senior Notes due 2027.
Equinix is a global digital infrastructure company. It connects enterprises and service providers directly to their customers and partners across the world’s most interconnected data center and interconnection platform in the Americas, Asia-Pacific, and Europe, the Middle East and Africa.
The Simpson Thacher team included Dan Webb, Ryan Coombs, Andy Roy and Laura Yang (Capital Markets); Russell Light and Zachary Fialkow (Tax); Genevieve Dorment (IP); Adeeb R. Fadil and Noreen Lavan (Environmental); and Andrew Pagliughi (Blue Sky).