Equinix to redeem 5.375% notes due 2027 with proceeds of new notes

By Rebecca Melvin

New York, May 3 – Equinix Inc. plans to redeem all of its outstanding 5.375% senior notes due 2027 on June 2, according to an 8-K filed with the Securities and Exchange Commission.

The redemption is conditioned on closing of an offering of new notes.

There is $1.25 billion principal amount of the existing notes outstanding, and the redemption price will be 102.688% of the principal amount of notes plus interest through May 15, 2022, using a discount rate based on the Treasury rate plus 50 basis points plus accrued and unpaid interest.

A portion of the proceeds of the new notes will also be used to repay $642.7 million outstanding of the company’s senior unsecured multicurrency term loan facility.

Equinix is a Redwood City, Calif.-based data center company.

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