An insulating glazing is described, including a first pane, a second pane, and a circumferential spacer between the first and second panes. The spacer includes a hollow main body, two parallel pane contact walls, an outer wall, a glazing interior wall and a bore opening through the outer wall. The glazing further includes a hollow pressure-equalizing body, having a surrounding outer wall and a gas-permeable and vapor-diffusion-tight membrane fastened inside the outer wall. The pressure-equalizing body and a sealing compound are arranged in an outer pane intermediate space between the first pane and the second pane. The pressure-equalizing body is connected to the spacer through the bore opening, wherein a sealing material is arranged between the bore opening and the outer wall of the pressure-equalizing body. The hollow main body of the spacer contains a desiccant and at least one partition wall.