Equinix paper weathers Hindenburg position; Altice, CSC bonds slide on ramped-up volume

By Cristal Cody

Tupelo, Miss., March 20 – Equinix, Inc. found itself in focus on Wednesday on the release of a report from short seller Hindenburg Research and on the heels of a bond offering announced and terminated in the same session.

Hindenburg Research headlined the report as “selling an AI pipe dream as insiders cashed out hundreds of millions.”

Equinix’s 3.4% senior notes due 2052 (Baa2/BBB/BBB+) traded on Wednesday over 1¼ points lower on the week on a 68 bid handle, a source said.

Equinix said in a statement provided to Prospect News that the company takes the allegations seriously.

“We are aware of the report and in the process of reviewing claims made therein,” Equinix said. “We will report back once that review is complete, as appropriate.”

Elsewhere, dollar paper affiliated with Altice France Holding Restricted Group plunged in heavy secondary trading on Wednesday following the release of fiscal 2023 results.

Altice USA, Inc. and subsidiary CSC Holdings, LLC’s notes sank around 7 points to 18 points on $176 million of paper traded, a source said.

The 10½% notes due 2028 (Caa2/CCC) slid 18 points to 54½ bid on $40 million of paper changing hands over the session.

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