BofA Agents Equinix’s New Term Debt to Support Verizon Asset Buy
Equinix borrowed $1.053 billion of additional senior secured term B loans from a syndicate of lenders led by Bank of America serving as administrative agent, lender and L/C issuer.
Equinix borrowed $1.053 billion of additional senior secured term B loans from a syndicate of lenders led by Bank of America serving as administrative agent, lender and L/C issuer.
Equinix agreed to purchase a portfolio of 24 data center sites and their operations from Verizon Communications for $3.6 billion. Bank of America agented a credit facility to support the acquisition.
Bank of America served as administrative agent for a syndicate that provided $250 million and £300 million (approximately $432 million) term loans to Equinix. Equinix used the financing to terminate a bridge loan with JPMorgan Chase.
Equinix announced it amended its credit facility, comprised of a $550 million multi-currency revolving credit facility and a $200 million term loan facility. Merrill Lynch, Pierce, Fenner & Smith is lead arranger.