New Issue: Equinix prices upsized $1.25 billion long 10-year notes at par to yield 5 3/8%

By Paul A. Harris

Portland, Ore., March 8 – Equinix, Inc. priced an upsized $1.25 billion issue of long 10-year senior notes (B1/BB+) at par to yield 5 3/8% on Wednesday, according to a market source.

The issue size was increased from $1,125,000,000.

The yield printed in the middle of the 5¼% to 5½% yield talk.

J.P. Morgan Securities LLC, BofA Merrill Lynch, RBC Capital Markets, Barclays, Goldman Sachs & Co., MUFG and TD Securities were the joint bookrunners.

The Redwood City, Calif.-based interconnection and data center company plans to use the proceeds for general corporate purposes, including working capital, acquisitions, retirement of debt and other business opportunities.

Issuer:	Equinix, Inc.
Amount:	$1.25 billion, increased from $1,125,000,000
Maturity:	May 15, 2027
Securities:	Senior notes
Bookrunners:	J.P. Morgan Securities LLC, BofA Merrill Lynch, RBC Capital Markets, Barclays, Goldman Sachs & Co., MUFG, TD Securities
Co-manager:	ING, HSBC Securities, U.S. Bancorp Investments Inc.
Coupon:	5 3/8%
Price:	Par
Yield:	5 3/8%
Spread:	282 bps
Call protection:	5.2 years
Trade date:	March 8
Settlement date:	March 22
Ratings:	Moody's: B1
	S&P: BB+
Distribution:	SEC registered
Price talk:	5¼% to 5½%

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