Equinix Inc. Enters $5.5B Revolving Credit Facility; Terminates 2022 Agreement

What Happened

• Equinix announced it entered into a $5,500,000,000 senior unsecured multi-currency revolving credit facility (the “Revolving Facility”) on July 29, 2026, with a maturity date of July 25, 2031. The facility permits borrowings in U.S. Dollars and several eligible foreign currencies and includes $1.5 billion in a sublimit for standby letters of credit and bank guarantees.
• On July 27, 2026, Equinix repaid in full and terminated its prior Credit Agreement dated January 7, 2022.

Key Details

• Facility size: $5.5 billion total commitments; maturity July 25, 2031.
• Borrowers: Equinix, Equinix Europe 1 Financing Corporation LLC (Finco 1) and Equinix Europe 2 Financing Corporation LLC (Finco 2). Equinix guarantees borrowings by the Fincos.
• Currency sublimits: Finco 1 may borrow in Swiss Francs up to the CHF equivalent of $1.0 billion; Finco 2 may borrow in Euros up to the Euro equivalent of $5.5 billion.
• Pricing and fees: As of closing, Applicable Margin was 0.00% for Base Rate borrowings and 77.5 bps (0.775%) for other borrowings; facility fees range from 7–20 bps (0.07%–0.20%) on commitments. Interest may be based on Term SOFR, Daily SOFR or a Base Rate.
• Financial covenant: consolidated net funded debt to consolidated adjusted EBITDA must not exceed 6.50x (can be temporarily increased to 7.00x at Equinix’s election after certain acquisitions).
• Permitted uses: working capital, capital expenditures, acquisitions, dividends, distributions, stock buybacks, letters of credit and other general corporate purposes.

Why It Matters

• This new Revolving Facility replaces Equinix’s 2022 credit agreement and provides multi-year liquidity and flexibility for borrowing, letters of credit and corporate purposes through mid‑2031.
• Key investor implications include defined borrowing costs tied to SOFR or base rate, a modest margin (77.5 bps at close) and a leverage covenant (6.5x EBITDA) that can constrain or signal the company’s ability to add debt or pursue large acquisitions without breaching the facility terms.
• The full credit agreement will be filed as an exhibit to Equinix’s Form 10‑Q for the quarter ended September 30, 2026 for complete terms.