Equinix launches €750 million six-year senior notes at 2 7/8%; pricing Wednesday

By Paul A. Harris

Portland, Ore., Feb. 28 – Equinix, Inc. launched a €750 million offering of six-year senior notes (expected ratings B1/BB+/BB) at 2 7/8%, a market source said on Wednesday morning.

The deal, which was announced on Tuesday, came with early guidance in the 3% area.

Joint global coordinator and joint bookrunner HSBC will bill and deliver. Barclays and ING are also joint global coordinators and joint active bookrunners.

BofA Merrill Lynch, Citigroup, Goldman Sachs, JPMorgan, MUFG, RBC, TD and Wells Fargo are joint bookrunners.

BNP Paribas, Mizuho, Morgan Stanley, PNC, Scotia, SMBC Nikko and U.S. Bancorp are co-managers.

The notes come with 2.5 years of call protection and feature a 2.5-year 35% equity clawback at par plus the coupon.

The Redwood City, Calif.-based provider of data management services plans to use the proceeds for general corporate purposes, which may include capital expenditures and working capital, and for potential acquisitions and strategic transactions.

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