Equinix issues €2.5B green bonds in four tranches, order book tops €10B

The scale of the oversubscription matters more than the green label: a four-times-covered book signals that debt investors remain willing to fund data-center buildout even as the sector's power and capex demands draw scrutiny. Equinix's silence on use of proceeds beyond the designation leaves the environmental claim unanchored, which is exactly where green-bond credibility questions tend to surface. Whether issuers in this space pair oversubscribed books with specific project-level disclosure is the open question worth watching.