Equinix greenshoe exercised, raising convertibles to $86.25 million

New York, Feb. 20 - Equinix Inc. said the underwriters of its recent offering of convertible subordinated debentures due 2024 exercised the $11.25 million over-allotment option in full, raising the size of the deal to $86.25 million.

The Foster City, Calif., provider of data centers and internet exchange services originally sold $75 million of the securities after the market closed on Feb. 5 to yield 2.5% with a 34% initial conversion premium.

Citigroup Global Markets Inc. was bookrunner of the Rule 144A/Regulation S deal.

Equinix will use proceeds together with existing cash to redeem its 13% senior notes, to repay borrowings under its credit facility and capital leases, and for working capital and capital expenditures.

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