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Equinix, Inc., the world’s digital infrastructure company, has strengthened its commitment to sustainability by issuing an additional €1.15 billion in green bonds. Following over $750 million issued in September 2024,…
The post Equinix Raises $1.2 Billion in Green Bonds, Now a Top 5 U.S. Issuer appeared first on ESG News.
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Equinix Raises $1.2 Billion in Green Bonds, Now a Top 5 U.S. Issuer – ESG News
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Equinix Raises $1.2 Billion in Green Bonds, Now a Top 5 U.S. Issuer
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Equinix Raises $1.2 Billion in Green Bonds, Now a Top 5 U.S. Issuer
by ESG News
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November 25, 2024
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Total Green Bond Issuance Reaches $6.9 Billion: Equinix issues an additional €1.15 billion in green bonds, solidifying its status among the top 5 U.S. issuers in the investment-grade green bond market.
Funds Strategic Sustainability Initiatives: Proceeds will finance or refinance projects under Equinix’s 2024 Green Finance Framework, driving the company’s global sustainability mission.
Demonstrates Sustainability Leadership: Maintains 96% renewable energy coverage in 2023 and achieves top CDP Climate Change A List ranking for the second consecutive year.
Equinix, Inc., the world’s digital infrastructure company, has strengthened its commitment to sustainability by issuing an additional €1.15 billion in green bonds. Following over $750 million issued in September 2024, this brings the company’s total green bond issuance to approximately $6.9 billion, positioning Equinix among the top 5 U.S. issuers in the investment-grade green bond market.
“We view green finance as an integral part of our sustainability strategy at Equinix,” said Katrina Rymill, SVP Corporate Finance & Sustainability at 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.”
Issuance Details:
€650 million principal amount of 3.25% senior green notes due 2031
€500 million principal amount of 3.625% senior green notes due 2034
To manage interest rate risk, Equinix utilized rate locks, resulting in expected effective coupons of 3.27% for the 6-year notes and 3.65% for the 10-year notes. The offering closed on November 22, 2024.
Strategic Allocation of Proceeds:
Equinix plans to allocate the net proceeds to finance or refinance Eligible Green Projects, covering expenditures from up to two years prior and three years post-issuance. These projects are integral to Equinix’s sustainability mission and include:
Green building development
Renewable energy initiatives
Advanced energy efficiency measures
Resource conservation efforts
Decarbonization technologies
These initiatives align with Equinix’s 2024 Green Finance Framework, based on the Green Bond Principles (June 2021) and Green Loan Principles (February 2023). The framework emphasizes environmental protection, climate change mitigation through greenhouse gas emissions reductions, resource efficiency, and enhanced corporate transparency.
Sustainability Leadership:
In 2023, Equinix achieved significant milestones:
Maintained 96% renewable energy coverage across its global portfolio.
Improved power usage effectiveness (PUE) by over 8%, enhancing operational efficiency compared to the previous year.
Earned placement on the CDP’s Climate Change A List for the second consecutive year, distinguishing itself among the top 2% of over 23,000 companies reporting environmental data.
Future Outlook:
Through its global Future First sustainability strategy, Equinix continues to invest in innovative technologies that drive energy efficiency, renewable energy adoption, and heat export projects. These efforts are strategically focused on delivering maximum impact for customers, investors, and key stakeholders.
By reinforcing its financial commitment to sustainability through substantial green bond issuances, Equinix not only advances its environmental objectives but also strengthens its position as a leader in sustainable digital infrastructure
RELATED ARTICLE: Equinix Strengthens Sustainability with $750 Million in Green Bonds, Targets Climate Neutrality by 2030
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Topics
Decarbonization technologies
Eligible Green Projects
Equinix Inc
green bonds
Green Building
Katrina Rymill
Renewable Energy
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