Equinix draws down $40 million on revolving credit facility

By Laura Lutz

Des Moines, Oct. 2 - Equinix, Inc. drew down $12 million on Sept. 26 and $28 million on Sept. 29 from its $75 million revolving credit facility agreement with Silicon Valley Bank and General Electric Corp., according to an 8-K filing with the Securities and Exchange Commission.

The company borrowed $20 million at the Prime rate, currently 8.75%. The remaining $20 million was borrowed at a spread over the one-month Libor rate for a cost of 7.824%.

The borrowings will be used for capital expenditures and construction costs for the company's data center expansions in Chicago and Washington, D.C.

Approximately $28.3 million remains available under the credit facility.

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