- Data-center firm Equinix (NASDAQ:EQIX -0.6%) has set concurrent offerings of $1.75B in equity and $1.125B in debt.
- The offerings are separate and not contingent on each other. All stock and debt sold in the offerings will be offered by Equinix.
- The equity offering -- for $1.75B in common stock -- comes with a 30-day greenshoe option for up to $262.5M more in common stock.
- The notes, meanwhile, will be general senior obligations, with other terms to be determined.
- Proceeds will be used to along with existing term loan B borrowings of about $1.053B to finance its previously announced acquisition of Verizon's co-location services business.
- J.P. Morgan, BofA Merrill Lynch, Goldman Sachs, RBC Capital Markets, Barclays and Citigroup are acting as joint book-runners.
- Shares in EQIX are flat in some choppy after-hours trade.