Equinix 8-K
Debt financing
Replaces prior credit agreement with a multi-currency revolver maturing in 2031; qualifying acquisitions allow temporary leverage covenant relief.
Filed 2026-07-29 16:20 ET
- 1.01 Entry into a Material Agreement
- 1.02 Termination of a Material Agreement
- 2.03 Creation of a Financial Obligation
- 9.01 Financial Statements and Exhibits
Summary
Replacement revolving credit facility. Equinix repaid and terminated its 2022 credit agreement on 07/27/2026 and entered a new $5.5B senior unsecured, multi-currency revolving facility.
Key Figures
- New facility: $5.5B of revolving commitments, maturing 07/25/2031; includes a $1.5B sublimit for standby letters of credit and bank guarantees. Proceeds may be used for working capital, capital expenditures, acquisitions, dividends, stock buybacks and other general corporate purposes.
- Pricing at closing: 77.5 bp margin over the applicable reference rate for non-Base Rate borrowings; zero margin for Base Rate borrowings. Quarterly facility fee of 7–20 bp applies to total lender commitments, regardless of utilization.
- Covenant: consolidated net funded debt to consolidated adjusted EBITDA must not exceed 6.50x at each fiscal quarter-end, temporarily adjustable to 7.00x at Equinix’s election following certain material acquisitions. Equinix guarantees the Fincos’ borrowings.
Investor Takeaways
- Quarterly leverage and any qualifying material acquisition will determine covenant headroom.
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