REDWOOD
CITY, Calif., Nov. 25,
2024 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX),
the world's digital infrastructure company®, today
announced that it has issued an additional €1.15 billion in green
bonds. This builds on more than $750
million offerings in green bonds that Equinix completed in
September this year. With these latest issuances, Equinix will have
issued a total of approximately $6.9
billion of green bonds, making it a top 5 issuer of green
bonds in the U.S. Equinix will utilize the green bonds to further
its sustainability initiatives and enhance the operational
efficiency of its global business.
"We view green finance as an integral part of our sustainability
strategy at Equinix," said Katrina
Rymill, SVP Corporate Finance & Sustainability, Equinix.
"Our green bonds demonstrate Equinix's continued commitment to
design, build and deliver the most reliable, secure and sustainable
data center and digital infrastructure possible in order to benefit
our customers, our investors, and the communities in which we
operate."
Equinix issued €650 million principal amount of 3.25% senior
green notes due 2031 and €500 million principal amount of 3.625%
senior green notes due 2034. Equinix used rate locks to hedge a
significant portion of the interest rate risk associated with the
issuance of the Euro green bonds. Accounting for such hedges, the
6-year and the 10-year Euro green bonds are expected to carry an
effective coupon to Equinix of 3.27% and 3.65%, respectively. The
offering closed on November 22,
2024.
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 Eligible Green Projects. Equinix's
allocation strategy includes covering project expenditures up to
two years before the issuance of the green bonds and three years
following the green bond issuance. These projects, which form the
backbone of the company's sustainability mission, span a wide range
of impactful categories—from green building development and
renewable energy innovations to advanced energy efficiency,
resource conservation and cutting-edge decarbonization
solutions.
Highlights/Key Facts
- Equinix's Eligible Green Projects follow its 2024 Green Finance
Framework based on the Green Bond Principles of June 2021 and Green Loan Principles of
February 2023, a set of guidelines
that promote transparency and integrity in, and advance the
standardization of, green debt disclosures. The Framework aims to
increase Equinix's focus on protecting the environment and
addressing global climate change through greenhouse gas emissions
reductions, increasing resource efficiency and driving corporate
transparency and accountability.
- Globally, Equinix has continued to invest in new and innovative
technologies in energy efficiency, renewable energy and heat export
projects as part of its global Future First sustainability
strategy, focusing on areas that have the greatest impact on
customers and key stakeholders.
- In 2023, it maintained 96% renewable energy coverage across its
portfolio. It also remains focused on improving the energy
efficiency of its facilities as measured by power usage
effectiveness (PUE), which improved 8%+ compared to the prior
year.
- In addition, Equinix was recognized for its climate performance
and transparency in 2023 by achieving the highest ranking of the
CDP's prestigious Climate Change A List for the second consecutive
year. Of 23,000+ companies that disclosed environmental data to CDP
in 2023, less than 2% received the top score.
Additional Resources
- Equinix Issues More Than $750
Million in Green Bonds to Drive Sustainability Initiatives
[press release]
- What Are Green Bonds? How Are They Used in the Data Center
Industry? [blog]
- 2023 Equinix Sustainability Report and Global Reporting
Initiative (GRI) Metrics [report]
About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure
company®. Digital leaders harness Equinix's trusted platform to
bring together and interconnect foundational infrastructure at
software speed. Equinix enables organizations to access all the
right places, partners and possibilities to scale with agility,
speed the launch of digital services, deliver world-class
experiences and multiply their value, while supporting their
sustainability goals.
Forward-Looking Statements
This press release contains
forward-looking statements that involve risks and uncertainties.
Actual results may differ materially from expectations discussed in
such forward-looking statements. These forward-looking statements
include, but are not limited to, statements about Equinix's intent
to allocate an amount equal to the net proceeds from the green
bonds to finance, or refinance, a portfolio of Eligible Green
Projects; the effective coupon rates on the green bonds as a result
of hedging; the intended impact of Equinix's Green Finance
Framework; Equinix's long-term sustainability goals; and similar
statements that are not historical facts. Please see recent and
upcoming Equinix quarterly and annual reports filed with the
Securities and Exchange Commission, copies of which are available
upon request from Equinix, for factors that might cause such
differences. Equinix does not assume any obligation to update the
forward-looking information contained in this press release.
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SOURCE Equinix, Inc.