Equinix Prices EUR1.1 Billion Green Bonds to Advance Sustainability Initiatives

REDWOOD CITY, Calif., Feb. 25, 2021 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company, today announced that it priced EUR1.1 billion principal amount of notes across two tranches in its second green bond offering. The green bonds will be used to help advance the company's longstanding commitment to sustainability leadership and reducing its environmental impact. The offering is expected to close on March 10, 2021, subject to the satisfaction of customary closing conditions.

The EUR500 million 0.250% Senior Notes due 2027 and EUR600 million 1.000% Senior Notes due 2033 have a weighted average interest cost of 0.66%, representing a 2.215% reduction in cost relative to Equinix's existing Euro-denominated Senior Notes.

Equinix intends to allocate an amount equal to the net proceeds from the offering 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 notes and until and including the maturity date of the notes, including the development and redevelopment of such projects. Pending allocation, Equinix expects to use approximately EUR509.4 million of the net proceeds from this offering to fund the redemption of all of its outstanding 2.875% 2026 Euro Senior Notes, including the payment of the premium and accrued interest to the redemption date and the balance for working capital and other general corporate purposes. The refinancing will result in EUR11.1 million of annual interest savings.

For the offering of the bonds, Barclays Bank PLC, Deutsche Bank AG, London Branch, HSBC Bank plc, and ING Bank N.V. served as joint book-running managers, Merrill Lynch International, Citigroup Global Markets Limited, Goldman Sachs & Co. LLC, J.P. Morgan Securities plc, MUFG Securities EMEA plc, RBC Europe Limited, SMBC Nikko Capital Markets Limited, The Toronto-Dominion Bank, BNP Paribas, Mizuho International plc, Morgan Stanley & Co. International plc, Scotiabank Europe plc, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities International Limited served as bookrunners. ING served as sole Green Structuring Advisor.

Highlights/Key Facts

    --  In conjunction with its inaugural green bond offering in Q3 2020,
        Equinix developed a Green Finance Framework based on the Green Bond
        Principles and Green Loan Principles, a set of guidelines that promote
        transparency and integrity in, and advance the standardization of, green
        debt disclosures. As outlined in Equinix's Green Finance Framework, an
        amount equal to the net proceeds of the green bonds will be allocated to
        finance or refinance, in whole or in part, recently completed or future
        Eligible Green Projects in categories such as green buildings, renewable
        energy, energy efficiency, sustainable water and wastewater management,
        waste management and clean transportation that are expected to deliver
        benefits to Equinix and its shareholders.The Framework will increase
        Equinix's focus on protecting the environment and addressing global
        climate change through greenhouse gas emissions reductions, increasing
        resource efficiency and driving corporate transparency and
        accountability.
    --  Equinix continues to advance its green initiatives through its recent
        support of the new Climate Neutral Data Centre Operator Pact and
        Self-Regulatory Initiative. The Pact marks the first time the data
        center industry has come together to solidify its commitment to ensure
        that European data centers are carbon neutral by 2030.
    --  Until an amount equal to the net proceeds from the green bonds has been
        fully allocated, Equinix will report annually through an allocation and
        impact report on the use of such funds and their environmental impacts.
        The report will be published on Equinix's Corporate Sustainability
        website. Sustainalytics, a leading global provider of ESG research,
        ratings and data, issued a second-party opinion on the environmental
        benefits of Equinix's Green Finance Framework as well as its alignment
        with the Green Bond Principles and Green Loan Principles.

Quote

    --  Keith Taylor, Chief Financial Officer, Equinix "Equinix is committed to
        accelerating our momentum and investment in greening our data center
        footprint, delivering wide-reaching environmental benefits for not only
        ourselves and our communities but also our global customers. The Green
        Bond is one of the many tools we're using to advance our environmental
        sustainability initiatives and continue to make progress towards
        achieving our ambitious sustainability goals."

Additional Resources

    --  Climate Neutral Data Centre Pact [website]
    --  Equinix Joins European Cloud and Data Center Providers to Make Historic
        Pledge Towards Climate Neutrality by 2030 [press release]
    --  Equinix Prices $1.85 Billion in Bonds, Including $1.35 Billion in Green
        Bonds to Drive Sustainability Initiatives [press release]
    --  Green Finance Framework [website]
    --  Second-Party Opinion Report [PDF]
    --  Equinix Sustainability [website]
    --  Equinix FY19 Sustainability Report [PDF]

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the bonds or any other securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. In addition, this press release is not an offer to purchase or a notice of redemption with regard to any outstanding notes or any other securities.

About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage. With Equinix, they can scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value.

Forward-Looking Statements
This press release contains forward-looking statements that are based on Equinix's current expectations, including statements regarding the offering of the bonds, its sustainability objectives, the receipt and use of the net proceeds from the offering of the bonds and the consummation of any redemptions of outstanding notes. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including market conditions, customary closing conditions and other factors. In particular, there can be no assurance that Equinix will complete the offering of the bonds. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect Equinix and its results is included in Equinix's filings with the SEC. Equinix does not assume any obligation to update the forward-looking information contained in this press release.

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SOURCE Equinix, Inc.