Equinix Closes on Increased Credit Line

By Rich Miller
CarrierHotels News Staff

Jan. 3, 2000 -- Equinix, Inc., a provider of carrier-neutral Internet Business Exchange (IBX) centers, said today that it has closed on $150 million in senior secured credit facilities from a syndicate of leading financial institutions.
The new credit lines replace and increase earlier commitments for $100 million. The syndicate is led by Goldman Sachs Credit Partners L.P. and Salomon Smith Barney, Inc.
The new agreement includes a five-year $50 million term loan, a five-year $75 million delayed draw term loan and a $25 million five-year revolving credit facility.
Equinix will use the funds for data center expansion projects. The company currently has six IBX centers operational, totaling approximately 543,000 square feet, and plans to build an additional two IBX centers and complete several expansion projects by the end of 2001.
"The highly successful execution of Equinix' first bank debt transaction, despite very challenging market conditions, is a testament to the strength of Equinix's management team and their proven operational track record," said Robert Wagner, Managing Director and Co-Head of Goldman Sachs' bank loan business. "Goldman Sachs is very excited to have led such a successfully syndicated bank debt facility.''

Equinix designs, builds and operates neutral Internet Business Exchange(TM) (IBX(TM)) centers which provide enterprises, content providers, ASPs and e-commerce companies with the choice of a wide variety of Internet partners.