Equinix Amends Senior Credit Facility

  Equinix Amends Senior Credit Facility

Business Wire

REDWOOD CITY, Calif. -- October 2, 2013

Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center
company, today announced it has amended its senior secured credit facility
comprised of a $550,000,000 multi-currency revolving credit facility and a
$200,000,000 term loan facility. These amendments are an important step in
preparing the company for its proposed conversion to a Real Estate Investment
Trust (REIT) in January 2015.

Equinix amended the credit facility to allow the company greater flexibility
to make pre-REIT conversion purge distributions and post-REIT conversion cash
dividends necessary to comply with REIT rules and regulations if the company
is successful in its REIT conversion. The company also amended certain
financial covenants to provide greater operational flexibility.

In addition, an accordion feature has been included to allow Equinix to
request an increase in the aggregate amount available to be borrowed under the
revolving credit facility by an additional $250,000,000, for a total of
$800,000,000 in revolving credit availability, subject to certain conditions
and the receipt of lender commitments. Equinix’s cost of borrowing under the
credit facility remains unchanged and is based on the company’s election of a
floating interest rate based on the prime rate or LIBOR plus an applicable
margin which varies based on the company’s senior leverage ratio. The credit
facility has a maturity date of June 2017. Merrill Lynch, Pierce, Fenner &
Smith Incorporated is lead arranger, with Bank of America, N.A. as
administrative agent for the credit facility.

“With these positive amendments and enhanced flexibility to our credit
facility, we continue to undertake key steps to strengthen our balance sheet
and position ourselves for our proposed REIT conversion which is expected to
take place in January 2015,” said Keith Taylor, chief financial officer for
Equinix.

About Equinix

Equinix, Inc. (Nasdaq: EQIX), connects more than 4,000 companies directly to
their customers and partners inside the world’s most networked data centers.
Today, businesses leverage the Equinix interconnection platform in 31
strategic markets across the Americas, EMEA and Asia-Pacific. www.equinix.com.

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. For additional information and
risks relating to Equinix’s proposed conversion to a REIT see Equinix’s
Quarterly Report on Form 10-Q filed July 26, 2013, including under the section
captioned “Item 1A. Risk Factors - Risks Related to REIT Conversion.” Equinix
does not assume any obligation to update the forward-looking information
contained in this press release.

Equinix and IBX are registered trademarks of Equinix, Inc.

International Business Exchange is a trademark of Equinix, Inc.

Contact:

Equinix Media Contact
Melissa Neumann, +1-650-598-6098
mneumann@equinix.com
or
Equinix Investor Relations Contact
Katrina Rymill, +1-650-598-6583
krymill@equinix.com
 
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