Equinix Continues to Expand Sustainability Initiatives with Additional €1.15 Billion in Green Bonds

REDWOOD CITY, Calif., Nov. 25, 2024/PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company^®, today announced that it has issued an additional €1.15 billion in green bonds. This builds on more than $750 million offerings in green bonds that Equinix completed in September this year. With these latest issuances, Equinix will have issued a total of approximately $6.9 billion of green bonds, making it a top 5 issuer of green bonds in the U.S. Equinix will utilize the green bonds to further its sustainability initiatives and enhance the operational efficiency of its global business.

"We view green finance as an integral part of our sustainability strategy at Equinix," said Katrina Rymill, SVP Corporate Finance & Sustainability, Equinix. "Our green bonds demonstrate Equinix's continued commitment to design, build and deliver the most reliable, secure and sustainable data center and digital infrastructure possible in order to benefit our customers, our investors, and the communities in which we operate."

Equinix issued €650 million principal amount of 3.25% senior green notes due 2031 and €500 million principal amount of 3.625% senior green notes due 2034. Equinix used rate locks to hedge a significant portion of the interest rate risk associated with the issuance of the Euro green bonds. Accounting for such hedges, the 6-year and the 10-year Euro green bonds are expected to carry an effective coupon to Equinix of 3.27% and 3.65%, respectively. The offering closed on November 22, 2024.

Equinix intends to allocate an amount equal to the net proceeds from the green bonds to finance or refinance, in whole or in part, recently completed or future Eligible Green Projects. Equinix's allocation strategy includes covering project expenditures up to two years before the issuance of the green bonds and three years following the green bond issuance. These projects, which form the backbone of the company's sustainability mission, span a wide range of impactful categories-from green building development and renewable energy innovations to advanced energy efficiency, resource conservation and cutting-edge decarbonization solutions.

Highlights/Key Facts

• Equinix's Eligible Green Projects follow its 2024 Green Finance Framework based on the Green Bond Principles of June 2021 and Green Loan Principles of February 2023, a set of guidelines that promote transparency and integrity in, and advance the standardization of, green debt disclosures. The Framework aims to increase Equinix's focus on protecting the environment and addressing global climate change through greenhouse gas emissions reductions, increasing resource efficiency and driving corporate transparency and accountability.
• Globally, Equinix has continued to invest in new and innovative technologies in energy efficiency, renewable energy and heat export projects as part of its global Future First sustainability strategy, focusing on areas that have the greatest impact on customers and key stakeholders.
  • In 2023, it maintained 96% renewable energy coverage across its portfolio. It also remains focused on improving the energy efficiency of its facilities as measured by power usage effectiveness (PUE), which improved 8%+ compared to the prior year.
  • In addition, Equinix was recognized for its climate performance and transparency in 2023 by achieving the highest ranking of the CDP's prestigious Climate Change A List for the second consecutive year. Of 23,000+ companies that disclosed environmental data to CDP in 2023, less than 2% received the top score.

Additional Resources

• Equinix Issues More Than $750 Million in Green Bonds to Drive Sustainability Initiatives [press release]
• What Are Green Bonds? How Are They Used in the Data Center Industry? [blog]
• 2023 Equinix Sustainability Report and Global Reporting Initiative (GRI) Metrics [report]

About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company®. Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. These forward-looking statements include, but are not limited to, statements about Equinix's intent to allocate an amount equal to the net proceeds from the green bonds to finance, or refinance, a portfolio of Eligible Green Projects; the effective coupon rates on the green bonds as a result of hedging; the intended impact of Equinix's Green Finance Framework; Equinix's long-term sustainability goals; and similar statements that are not historical facts. Please see recent and upcoming Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix, for factors that might cause such differences. Equinix does not assume any obligation to update the forward-looking information contained in this press release.

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SOURCE Equinix, Inc.