Equinix talks $500 million eight-year note offering at 8% area

By Paul A. Harris

St. Louis, Feb. 25 - Equinix, Inc. talked its $500 million offering of eight-year senior notes (Ba2) at the 8% area on Thursday, according to an informed source.

The deal is set to price on Friday.

Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are the joint bookrunners.

Bank of America Merrill Lynch, Barclays Capital Inc., Goldman Sachs & Co., ING and RBS Securities Inc. are the co-managers.

The notes will come with a make-whole call for the first four years and then will become callable at a premium.

Proceeds will be used for general corporate purposes, which may include expansion capital expenditures and debt repayment, including debt expected to be assumed in connection with the planned acquisition of Switch and Data.

Equinix is a Foster City, Calif.-based provider of network neutral colocation, interconnection and managed IT infrastructure services.

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