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8-K - FORM 8-K - TERREMARK WORLDWIDE INC. | g23127e8vk.htm |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Terremark Closes $50 Million Senior Secured Notes
Offering
Offering
Rating Agency Upgrades Companys Corporate Credit Rating
MIAMI April 28, 2010 Terremark Worldwide, Inc. (NASDAQ:TMRK) today announced the successful
completion of the previously announced private placement of $50 million of its 12% senior secured
notes due 2017 at an issue price of 112%, resulting in a yield to maturity of 9.25%. In conjunction
with the offering, Moodys Investors Service upgraded Terremarks corporate family rating to B2
from B3 and Standard & Poors revised the outlook on the company to positive from stable.
Terremark intends to use the net proceeds for working capital and other general corporate purposes
to support the growth of its business, which may include capital investments to build out
facilities.
The offering was made to qualified institutional buyers and certain non-U.S. persons in offshore
transactions in accordance with Rule 144A and Regulation S under the Securities Act of 1933, as
amended.
This press release is neither an offer to sell nor the solicitation of an offer to buy the notes or
any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in
which, or to any persons to whom, such an offer, solicitation or sale is unlawful. This press
release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Statements contained in this press release may constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. Terremarks actual results may
differ materially from those set forth in the forward-looking statements due to a number of risks,
including the ability to cross-sell across an acquired customer base, ability to increase revenue
yields within facilities, ability to refinance existing debt, uncertainties and other factors, as
discussed in Terremarks filings with the SEC. These factors include, without limitation,
Terremarks ability to obtain funding for its business plans, uncertainty in the demand for
Terremarks services or products, Terremarks ability to manage its growth, and the successful
integration of operations of acquired companies. Terremark does not assume any obligation to update
these forward-looking statements.
# # #
CONTACT:
Media Relations
Terremark Worldwide, Inc.
Xavier Gonzalez
305-961-3134
xgonzalez@terremark.com
Media Relations
Terremark Worldwide, Inc.
Xavier Gonzalez
305-961-3134
xgonzalez@terremark.com
Investor Relations
Terremark Worldwide, Inc.
Hunter Blankenbaker
305-961-3109
hblankenbaker@terremark.com
Terremark Worldwide, Inc.
Hunter Blankenbaker
305-961-3109
hblankenbaker@terremark.com