Equinix Completes $1.5 Billion Senior Credit Facility

News provided by

Dec 18, 2014, 04:20 ET

REDWOOD CITY, Calif., Dec. 18, 2014 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced the closing of its $1.5 billion five-year senior secured credit facility with a syndicate of eleven financial institutions. The senior credit facility consists of a $1.0 billion senior secured multi-currency revolving credit facility and a $500.0 million amortizing senior secured term loan facility. Equinix borrowed the full amount of the $500.0 million term loan facility at closing.

A portion of the proceeds from the $500.0 million term loan facility was used by Equinix to refinance existing indebtedness (including indebtedness under Equinix's former $750.0 million senior secured credit facility, which was terminated and replaced by the new $1.5 billion senior secured credit facility) and to pay fees and expenses incurred in connection with the closing of the senior credit facility. Equinix intends to use the remaining proceeds of the term loan facility and the proceeds of borrowings under the revolving credit facility for general corporate purposes, which may include capital expenditures, distributions to its stockholders (including distributions in connection with Equinix's proposed conversion to a real estate investment trust), working capital and potential acquisitions and strategic transactions.

Bank of America Merrill Lynch, J. P. Morgan Securities LLC and TD Securities (USA) LLC acted as joint lead arrangers and book runners, JPMorgan Chase Bank, N.A. and TD Securities (USA) LLC acted as co-syndication agents, and Barclays Bank PLC, Citibank, N.A., Royal Bank of Canada and ING Bank N.V., Singapore Branch, acted as co-documentation agents for the senior credit facility. Bank of America, N.A is the administrative agent for the senior credit facility.

"We are pleased with the successful completion of this senior credit facility, which increases our liquidity position and enhances our ability to invest in our growth opportunities. We had high caliber financial institutions subscribing to this transaction and the strong demand and recognition for our credit is a testament to Equinix's steady operating performance and credit strength," said Keith Taylor, chief financial officer for Equinix.

About Equinix
Equinix, Inc. (Nasdaq: EQIX), connects more than 4,500 companies directly to their customers and partners inside the world's most networked data centers. Today, businesses leverage the Equinix interconnection platform in 32 strategic markets across the Americas, EMEA and Asia-Pacific.

Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. There can be no assurance that Equinix will complete the financing described in this press release or, if completed, the amount or terms of such financing and the application of the proceeds of such financing will be as currently anticipated. In particular, see the Risk Factors described in Equinix's preliminary prospectus supplement filed with the SEC in connection with the offering of the notes described in this press release. Equinix does not assume any obligation to update the forward-looking information contained in this press release.

Equinix and IBX are registered trademarks of Equinix, Inc.
International Business Exchange is a trademark of Equinix, Inc.

Logo - http://photos.prnewswire.com/prnh/20140102/MM39832LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/equinix-completes-15-billion-senior-credit-facility-300012213.html

SOURCE Equinix, Inc.