Equinix to sell $1 billion two-part notes offering in Monday drive-by

By Paul A. Harris

Portland, Ore., Nov. 17 – Equinix, Inc. plans to price $1 billion of senior notes in two tranches on Monday, according to a market source.

The public offering is coming in tranches of seven-year and 10-year notes.

J.P. Morgan Securities, BofA Merrill Lynch, Barclays and Citigroup Global Markets Inc. are the joint bookrunners.

Deutsche Bank Securities Inc., Evercore ISI, Goldman Sachs & Co., RBC Capital Markets and TD Securities are the co-managers.

The Redwood City, Calif.-based interconnection and data center company plans to use the proceeds to redeem its outstanding 7% senior notes due 2021 and for general corporate purposes, which may include capital expenditures, distributions to its stockholders in connection with its proposed conversion to a real estate investment trust, as well as for working capital and for potential acquisitions and strategic transactions.

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