- Equinix's (NASDAQ:EQIX) new 5-year credit facility consists of a $1B revolving credit facility and a $500M term loan facility.
- Some of the term loan proceeds have been used to retire debt under a prior $750M credit facility that has been terminated. The remaining credit facility proceeds will be used for "general corporate purposes," including Equinix's the $416M ($7.57/share) distribution Equinix plans to make to gain REIT eligibility.
- The data center owner is only a month removed from raising $1.25B in debt.