Equinix Inc. has raised S$500 million ($372 million) in its first Singaporean green bond issuance, the data center operator said on Tuesday. This marks the first time a US corporation has tapped the Singapore dollar bond market in over five years.
Green Bond to Fund Sustainability Initiatives
The company said in a statement that the 3.50 percent senior notes, due 2030, will finance or refinance projects aimed at enhancing energy efficiency, renewable energy adoption and other sustainability initiatives.
The bond issuance is part of Equinix’s broader sustainability strategy. To date, the company has raised about $7.3 billion globally through green bonds.
“As AI adoption accelerates, advancing energy efficiency and integrating the latest sustainability innovations at our data centers becomes increasingly critical,” said Yee May Leong, managing director, Singapore, Equinix. “This milestone reinforces our commitment to supporting Singapore’s AI and sustainability goals while reducing our carbon footprint.”
Equinix will allocate the bond issuance proceeds to eligible green projects, including green building development, renewable energy solutions and decarbonization initiatives.
The company plans to fund expenditures made up to two years before the bond issuance and up to three years after.
Sustainable Infrastructure in Singapore
Singapore’s SG5 data center is among Equinix’s sustainable infrastructure projects, which features an annual power usage effectiveness of 1.32 and incorporates ultra-clean recycled water from the country’s National Water Agency.
The facility holds a BCA-IMDA Green Mark Platinum certification, reflecting its adherence to environmental standards.
DBS Bank Ltd. and Standard Chartered Bank jointly led the bond issuance, with HSBC and OCBC acting as joint lead managers and book-runners. DBS Bank Ltd. also served as the sole green bond structuring agent.
“DBS is pleased to have supported Equinix in its debut issuance in Singapore’s bond market,” said Clifford Lee, Global Head of Investment Banking at DBS Bank. “With demand for digital services like e-commerce and artificial intelligence expected to surge, developing innovative and efficient data centers will be integral to enabling a sustainable future.”
Equinix, which operates data centers in key global markets, has been recognized for its climate performance and transparency. For three consecutive years, it has achieved the highest ranking on CDP’s Climate Change A List.
