Equinix launches SGD $500m green bond in Singapore debut

Equinix has announced its first issuance of green bonds in the Singaporean market, raising SGD $500 million to support its sustainability initiatives.

The company issued SGD $500 million 3.50% senior notes due in 2030, marking the first time a U.S. corporate has entered the Singapore dollar market in over five years. The offering closed on March 13, 2025. This adds to Equinix's existing global issuance of approximately USD $7.3 billion in green bonds.

Yee May Leong, Managing Director, Singapore, Equinix, commented on the issuance, "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."

She added, "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 intends to use the net proceeds from the green bonds to finance or refinance eligible green projects. These projects encompass a variety of categories, including green building development, renewable energy innovations, and advanced energy efficiency measures. Equinix plans to allocate funds to projects completed up to two years prior to and three years following the bond issuance.

Globally, Equinix is investing in technologies that enhance energy efficiency, renewable energy, and heat export projects. Its SG5 facility exemplifies this commitment, featuring a power usage effectiveness (PUE) design average of 1.32, using reclaimed water for cooling, and holding a BCA-IMDA Green Mark Platinum certification.

Equinix's green projects are part of its strategy to address climate change through emission reductions and increased resource efficiency. In 2024, Equinix achieved the highest ranking on the CDP's Climate Change A List for the third consecutive year.

The bond offering was managed by a consortium including DBS Bank Ltd. and Standard Chartered Bank as Joint Global Coordinators, Joint Lead Managers, and Bookrunners. HSBC and OCBC also served as Joint Lead Managers and Bookrunners, with DBS Bank Ltd. acting as the sole Green Bond Structuring Agent.

Clifford Lee, Global Head of Investment Banking at DBS Bank, remarked, "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. 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, said, "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."