Equinix Announces Expiration And Tender Results Of Cash Tender Offer For 5.375% Senior Notes Due 2022, 5.375% Senior Notes Due 2023 and 5.750% Senior Notes Due 2025
REDWOOD CITY, Calif., Nov. 13, 2019 /PRNewswire/ -- Equinix, Inc. ("Equinix") (Nasdaq: EQIX), the global interconnection and data center company, today announced the expiration and tender results of its previously announced cash tender offer (the "Tender Offer") for any and all of its outstanding 5.375% Senior Notes due 2022 (CUSIP/ISIN No. 29444U AN6 / US29444UAN63) (the "2022 Notes"), 5.375% Senior Notes due 2023 (CUSIP/ISIN No. 29444U AM8 / US29444UAM80) (the "2023 Notes") and 5.750% Senior Notes due 2025 (CUSIP/ISIN No. 29444U AP1/ US29444UAP12) (the "2025 Notes", and together with the 2022 Notes and 2023 Notes, the "Notes"). The Tender Offer expired at 5:00 p.m., New York City time, on November 13, 2019 (the "Expiration Time"). The table below sets forth the aggregate principal amount of 2022 Notes, 2023 Notes and 2025 Notes that had been validly tendered and not withdrawn in the Tender Offer as of the Expiration Time, which amounts exclude Notes that remain subject to guaranteed delivery procedures.
Title of Security |
CUSIP/ISIN |
Principal |
Principal Amount |
Tender |
5.375% Senior Notes due 2022 |
29444U AN6 / US29444UAN63 |
$750,000,000 |
$406,208,000.00 |
$1,018.00 |
5.375% Senior Notes due 2023 |
29444U AM8 / US29444UAM80 |
$1,000,000,000 |
$632,205,000.00 |
$1,020.72 |
5.750% Senior Notes due 2025 |
29444U AP1/ US29444UAP12 |
$500,000,000 |
$204,880,000.00 |
$1,033.00 |
(1) |
Excludes $81,000 aggregate principal amount of 2022 Notes, $119,000 aggregate principal amount of 2023 Notes and $133,000 aggregate principal amount of 2025 Notes, respectively, that remain subject to guaranteed delivery procedures. |
|
(2) |
Per $1,000 principal amount of Notes validly tendered and not validly withdrawn. Does not include accrued and unpaid interest to, but not including, November 18, 2019. |
Payment for the Notes purchased pursuant to the Tender Offer, including the Notes that remain subject to guaranteed delivery procedures, is intended to be made on November 18, 2019 (the "Settlement Date"). The closing of the Tender Offer is subject to the satisfaction of customary closing conditions.
Equinix expects to fund the total Tender Offer consideration from the net proceeds of its previously announced issuance and sale of its 2.625% Senior Notes due 2024, 2.900% Senior Notes due 2026 and 3.200% Senior Notes due 2029 (the "New Notes"), which is expected to close on November 18, 2019, subject to the satisfaction of customary closing conditions.
Equinix intends to redeem all the 2023 Notes and 2025 Notes that have not been tendered in the Tender Offer on the anticipated redemption date of December 16, 2019. Equinix does not expect to redeem the 2022 Notes pursuant to the terms of the indenture in respect of such notes prior to January 1, 2020.
The Tender Offer was made pursuant to Equinix's Offer to Purchase dated November 6, 2019. This press release is neither an offer to purchase nor a solicitation of an offer to sell any of the Notes nor is it a solicitation for acceptance of the Tender Offer and does not constitute a notice of redemption for the 2022 Notes, 2023 Notes or 2025 Notes.
Safe Harbor Statement
This news release contains forward-looking statements, including statements regarding the Tender Offer and our intent to redeem remaining Notes. We have based these forward-looking statements on our current assumptions, expectations and projections about future events. We use words like "intend," "will," and similar expressions to identify forward-looking statements, although not all forward-looking statements contain these words. These forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those suggested by the forward-looking, statements including general economic and political conditions globally or regionally; risks related to the offering of the New Notes and the Tender Offer, including the risk that the New Notes offering and the Tender Offer are not consummated on the anticipated terms, if at all; and those additional risks and factors discussed in reports filed with the SEC by us from time to time. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect Equinix and its results is included in Equinix's filings with the SEC. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
About Equinix
Equinix, Inc. (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most interconnected data centers. In 53 markets worldwide, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
SOURCE Equinix, Inc.
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