EQUINIX INC: Entering into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Creation of a Direct Financial Obligation or Obligation under a Registrant’s Off-Balance Sheet Arrangement (Form 8-K)

Item 1.01 Conclusion of a Material Definitive Agreement

At January 7, 2022 (the “Closing Date”), Equinix, Inc. (“Equinix”) has entered into a credit agreement (the “Credit Agreement”), by and between Equinix, as a borrower, a syndicate of financial institutions, as lenders, Bank of America, NA., as an administrative agent, Citibank, NA., JPMorgan Chase Bank, NA., MUFG Bank, Ltd., RBC Capital Markets, Goldman Sachs Bank United States and HSBC Securities (United States) Inc., as co-syndication agents, Barclays Bank PLC, BNP Paribas, Deutsche Bank AG New York Branch, ING Bank NV, Dublin branch, Senior Financing Morgan Stanley, Inc., Sumitomo Mitsui Banking Company, The Bank of Nova Scotia and TD Securities (United States) LLC, as co-documentation agents, and BofA Securities, Inc.,
Citibank, NA., JPMorgan Chase Bank, NA., MUFG Bank, Ltd., RBC Capital Markets,
Goldman Sachs Bank United States and HSBC Securities (United States) Inc., as joint lead managers and bookkeepers, which Credit Agreement includes (i) a $ 4,000,000,000
Senior unsecured multi-currency revolving credit facility (the “Revolving Facility”) and (ii) a senior unsecured term loan facility of £ 500,000,000 (the “Term Loan Facility” and, together with the Revolving Facility, collectively the “Senior Credit Facilities”).

Senior credit facilities have a maturity date of January 7, 2027 (the due date “). Equinix may borrow, repay and re-borrow amounts under the Revolving Facility until the Maturity Date, on which date all amounts outstanding under the Revolving Facility must be repaid in full. Equinix
borrowed all of the £ 500,000,000 available under the term loan facility at the closing date. The term loan facility has no scheduled principal amortization and must be repaid in full on the maturity date.

A portion of the proceeds of the term loan facility were used to refinance outstanding debt under Equinix Credit agreement dated
December 12, 2017 (as amended, the “2017 Credit Agreement”). The remaining proceeds of the term loan facility and the proceeds of the revolving facility will be available to be used for working capital, capital expenditures, acquisitions, dividends, distributions, share repurchases, issuance of letters of credit and other general purposes. The revolving facility includes a $ 250,000,000 sub-limit for the issuance of stand-by letters of credit and bank guarantees. The revolving facility provides for credit extensions in United States Dollars as well as certain foreign currencies, including the euro, British pound, yen, Canadian dollars, Australian dollars, Hong Kong dollars, Singapore dollars, Swiss francs, Swedish krona and all other currencies which may be agreed from time to time by the lenders (each foreign currency, an “alternative currency”).

Loans under Senior Credit Lines denominated in we dollars will bear interest at (i) the SOFR term (defined as the forward rate of the forward-looking Guaranteed Overnight Funding Rate (“SOFR”) plus a SOFR adjustment), (ii) the daily SOFR (defined as SOFR plus a SOFR adjustment) ) or (iii) the prime rate (defined as the greater of (a) the fed funds rate (such rate being deemed to be zero if the fed funds rate is less than zero) plus 0.5%, ( wheat Bank of America
prime rate and (c) daily SOFR plus 1.00%, plus, in each case, a margin based on either Equinix consolidated net leverage ratio or Equinix business credit ratings S&P Global Ratings, Valuations Fitch Inc. and Moody’s Investors Service, Inc. (such corporate credit ratings, the “Credit Ratings” and this margin, the “Applicable Margin”). Borrowings under the senior credit facility denominated in an alternative currency will bear interest at a forward reference rate or at the overnight reference rate applicable to the relevant alternative currency plus the adjustment (if applicable), plus the applicable margin.

At the Closing Date, (i) under the Term Loan Facility, the Applicable Margin for borrowings at the Base Rate was zero and the Applicable Margin for all other borrowings was 87.5 basis points (0.875 %) and (ii) under the Revolving Facility, the applicable margin for prime rate borrowings was zero and the applicable margin for all other borrowings was 77.5 basis points (0.775%). A facility fee will be payable quarterly for the total amount of the Lenders’ commitments (regardless of use) under the Revolving Facility. Letter of credit fees are payable quarterly on the maximum amount


available to be drawn under each letter of credit. Equinix is also required to pay certain fees to the Administrative Agent under the Senior Credit Facilities.

The credit agreement contains customary restrictive covenants, including a financial clause which requires Equinix to maintain, at the end of each fiscal quarter, up to a maximum ratio of consolidated net debt to consolidated adjusted EBITDA, as well as the usual events of default.

The foregoing description of the Credit Agreement is a summary only and is qualified in its entirety by reference to the Credit Agreement, a copy of which will be filed as an exhibit. Equinix Form 10-K for the completed year December 31, 2021.

Item 1.02 Termination of a Material Definitive Agreement

At January 7, 2022, Equinix prepaid all of the outstanding debt under the 2017 credit agreement using a portion of the proceeds of the term loan and terminated the 2017 credit agreement.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant

Please refer to the description of the Credit Agreement disclosed in section 1.01 above.

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