Equinix 8-K

Summary

Senior-note issuance. Equinix and its wholly owned subsidiary issued $3.0B of principal across four unsecured tranches. The subsidiary’s $850M notes are fully and unconditionally guaranteed by Equinix; cross-currency swaps convert their principal obligation to euros, resulting in an effective interest rate of ≈3.95%.

Key Figures

• Principal and terms: Equinix issued $850M at 5.000%, due 8/15/2029; $650M at 5.500%, due 8/15/2033; and $650M at 5.800%, due 8/15/2036. Its subsidiary issued $850M at 5.250%, due 8/15/2031.
• Interest is payable semiannually on February 15 and August 15, beginning 2/15/2027. Equinix’s three note series are its general unsecured senior obligations and are not guaranteed by subsidiaries; the 2031 notes are the subsidiary’s unsecured senior obligations, guaranteed by Equinix.
• Following a change-of-control triggering event, each series requires an offer to purchase at 101% of principal plus accrued interest.