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Equnix takes out $1.5B credit facility

Dec. 18, 2014 4:42 PM ETEquinix, Inc. (EQIX) StockBy: Eric Jhonsa, SA News Editor
  • 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.

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