Equinix (EQIX) prices $1.2 billion green bond offering.

Equinix, Inc. (EQIX) announced today that it has priced a $1.2 billion offering of 3.900% senior unsecured notes due 2032.  Equinix intends to allocate an amount equal to the net proceeds from the green bonds to finance or refinance, in whole or in part, recently completed or future green bond projects.

The notes were priced at a discount to yield 3.964%, or +165 basis points to the reference treasury.  EQIX also noted that it used treasury locks to hedge "a significant portion of interest rate risk" associated with the offering, resulting in a cash gain of $58.4 million.  Inclusive of the hedge gains, the effective ten-year coupon is 3.35%.

Equinix is a global technology REIT with an owned and operated portfolio of 240 data center properties in 66 markets worldwide. EQIX is a member of the S&P 500 with a total market capitalization of approximately $88 billion.