Pulled IPO pushes Interxion into drive-by bond

05 Nov 2010

Interxion Holding, an Amsterdam based data centre provider, tapped an Eu200m high yield bond this week after it was forced to delay an initial public offering. The delay in the IPO, scheduled for the final quarter of this year, came after one of the company’s largest peers, Equinix of the US, suffered a 33% fall in its share price after issuing a profit warning last month.

"Equinix is the largest company in the sector and when it sneezes everyone else catches a cold," said a banker familiar with the sector. "Interxion is not struggling operationally, but market sentiment has turned against the sector momentarily."

Interxion priced its Eu50m drive-by at 106.5 on Thursday. The ...

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