Equinix gets $750 million credit facility led by Bank of America

By Sara Rosenberg

New York, July 5 - Equinix Inc. closed on a new $750 million five-year senior secured credit facility, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Bank of America Merrill Lynch was the lead arranger and bookrunner on the deal that was completed on June 28.

The facility consists of a $550 million revolver and a $200 million term loan.

Initial pricing on the revolver is Libor plus 137.5 basis points and pricing on the term loan is Libor plus 175 bps.

Covenants include coverage and leverage ratios and a minimum consolidated tangible net worth.

Proceeds were used to refinance existing debt and are available for general corporate purposes.

Equinix is a Redwood City, Calif.-based provider of global data center services.

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