Pending the allocation of an amount equal to the net proceeds from the offering of the green bonds to Eligible Green Projects, we expect to temporarily use the net proceeds from the offering of the green bonds for the repayment of a portion of our Term Loan Facility and the redemption our 5.375% Senior Notes due 2027, including the payment of the premium and accrued and unpaid interest to the redemption date.
For the offering of the notes,
Equinixhas developed a Green Finance Framework based on the Green Bond Principles and Green Loan Principles, a set of guidelines that promote transparency and integrity in, and advance the standardization of, green debt disclosures. As outlined in Equinix'sGreen Finance Framework, an amount equal to the net proceeds of the green bonds will be allocated to finance or refinance, in whole or in part, recently completed or future Eligible Green Projects in categories such as green buildings, renewable energy, energy efficiency, sustainable water and wastewater management, waste management and clean transportation that are expected to deliver benefits to Equinixand its shareholders. The Framework will increase Equinix'sfocus on protecting the environment and addressing global climate change through greenhouse gas emissions reductions, increasing resource efficiency and driving corporate transparency and accountability. Equinixrecently received an A- score for its CDP Climate Change Survey, a leading environmental rating system focused on climate-related transparency and action, recognizing the company's contribution to helping advance the development of the nation's green power market, and its commitment to reach 100% clean and renewable energy across its portfolio. Equinixcontinues to advance its green initiatives through its recent support of the new Climate Neutral Data Centre Operator Pact and Self-Regulatory Initiative. The Pact marks the first time the data center industry has come together to solidify its commitment to ensure that European data centers are carbon neutral by 2030.
Keith Taylor, Chief Financial Officer, Equinix
"With our third green bond issuance today, we continue to strengthen our longstanding environmental commitments, both aligning our sustainability strategy with our financing needs and bolstering our sustainability initiatives."
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the bonds or any other securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. In addition, this press release is not an offer to purchase or a notice of redemption with regard to any outstanding notes or any other securities.
This press release contains forward-looking statements that are based on
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