Equinix says its debut issuance marks the first US corporate to access the Singapore dollar market in over 5 years, and it will utilise the green bonds to advance its “longstanding commitment to sustainability, and to further the operational efficiency of its portfolio”.
Equinix issued S$500 million 3.50% senior notes due 2030. The offering closed on March 13, 2025, and including this latest issuance, Equinix says it has issued a total of approximately US$7.3 billion of green bonds globally.
“As AI adoption accelerates, advancing energy efficiency and integrating the latest sustainability innovations at our data centres becomes increasingly critical. The issuance of our inaugural green bonds in Singapore underscores our commitment to designing and building energy-efficient infrastructure, and reducing our carbon footprint,” said Yee May Leong, Managing Director, Singapore, Equinix.
“Equinix has always been a strong proponent of Singapore’s National AI Strategy and Green Plan 2030, and this milestone reinforces our dedication to advancing the nation’s AI vision responsibly and sustainably through our vibrant AI marketplace.”
Equinix says it intends to allocate an amount equal to the net proceeds from the green bonds to finance or refinance, in whole or in part, recently completed or future Eligible Green Projects. Equinix's allocation strategy includes covering project expenditures up to two years before the issuance of the green bonds and three years following the green bond issuance.
“These projects, which form the backbone of the company's sustainability mission, span a wide range of impactful categories, from green building development and renewable energy innovations to advanced energy efficiency, resource conservation and cutting-edge decarbonisation solutions.”
Equinix lists highlights/key facts of its bond issue as:
Globally, Equinix continues to invest in new and innovative technologies in energy efficiency, renewable energy, and heat export projects as part of its global Future First sustainability strategy, focusing on areas that have the greatest impact on customers and key stakeholders.
Equinix’s SG5 facility incorporates innovative sustainable design including a low design average annual power usage effectiveness (PUE) of 1.32 for the Asia-Pacific region. SG5 utilises Singapore’s National Water Agency NEWater ultra-clean high-grade reclaimed water for sustainable cooling and the facility achieved a BCA-IMDA Green Mark Platinum certification.
Equinix’s Eligible Green Projects aims to increase Equinix's focus on protecting the environment and addressing global climate change through greenhouse gas emissions reductions, increasing resource efficiency and driving corporate transparency and accountability.
Equinix was recognised for its climate performance and transparency in 2024 by achieving the highest ranking of the CDP's prestigious Climate Change A List for the third consecutive year.
For the offering of the bonds, DBS Bank Ltd. and Standard Chartered Bank served as Joint Global Coordinators and Joint Lead Managers and Bookrunners, and HSBC and OCBC served as Joint Lead Managers and Bookrunners. DBS Bank Ltd. Served as sole Green Bond Structuring Agent.
“DBS is pleased to have supported Equinix for its debut issuance of Singapore’s bond market. With demand for digital services like e-commerce and artificial intelligence expected to surge in the coming years, developing innovative and efficient data centres will be integral towards enabling a sustainable future,” says Clifford Lee, Global Head of Investment Banking, DBS Bank.
“As the first green bond by a foreign non-financial corporate issuer in Singapore, this issuance also underscores the vital role capital markets play in advancing a greener digital economy, as well as Singapore’s growing capabilities as a regional sustainable financing hub.”
Maria-Lisa Farmakidis, Executive Director of North America Debt Capital Markets at Standard Chartered says: “By leveraging our deep investor connectivity in Asia, we were thrilled to support Equinix in achieving this milestone transaction. This successful debut offering not only establishes Equinix’s presence in the Singapore dollar bond market but also paves the way for future issuances.”
