Bridge Financing for Equinix, Inc.’s £2.35 Billion Acquisition of TelecityGroup PLC
June 01, 2015
On May 29, 2015, Equinix, Inc. and TelecityGroup PLC announced that they have entered into an agreement under which Equinix will acquire TelecityGroup in a cash and stock transaction valued at approximately £2.35 billion (US$3.6 billion). Cravath represented Equinix as borrower under a £875 million bridge credit facility in connection with the financing of the transaction. JPMorgan Chase Bank is the initial lender and administrative agent under the facility.
The Cravath team included partner Craig F. Arcella and associates Raffael M. Fiumara, Edward J. Reed and Sabino M. Casella on financing matters and partner J. Leonard Teti II and associates Ashley N. Elnicki and Dmitry Zelik on tax matters. Sean M. Gholz also worked on financing matters.
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J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 1995, Duke University
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
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