Equinix increase senior note offering to $750 million from $500 million
By APFriday, February 26, 2010
Equinix increases note offer to $750 million
FOSTER CITY, Calif. — Data center service provider Equinix Inc. said Friday it plans to increase the its offering of senior notes due 2018 to $750 million from $500 million.
The company plans to use the proceeds for general corporate purposes such as paying down debt it expects to assume when it buys Switch & Data Facilities Co. The cash and stock deal, first announced last October, was valued about $689 million and is expected to close in the current quarter.
Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are the joint book-running managers for the notes offering.
Shares of Equinix rose 14 cents to close at $94.47.
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