EX-99.1 3 g19508exv99w1.htm EX-99.1 EX-99.1
Exhibit 99.1
(TERREMARK LOGO)
FOR IMMEDIATE RELEASE
Terremark Prices $420 Million of 12% Senior Secured
Notes Due 2017
MIAMI — June 17, 2009 — Terremark Worldwide, Inc. (NASDAQ:TMRK) today announced the pricing of $420 million aggregate principal amount of 12% senior secured notes due 2017 at an issue price of 95.134%. This represents an increase of $20 million over the previously announced proposed offering of $400 million. The Company expects the offering to close on June 24, 2009, subject to customary closing conditions.
Terremark intends to use the net proceeds from the offering to repay in full the $254.2 million outstanding under its senior secured credit facilities and to repay at maturity $4.0 million principal amount of its 0.5% senior subordinated convertible notes, due June 30, 2009. The Company will use any remaining 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 and acquisitions of complementary businesses.
The notes will be issued in a private offering 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. The notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.
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. Terremark’s 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 Terremark’s filings with the SEC. These factors

 


 

(TERREMARK LOGO)
include, without limitation, Terremark’s ability to obtain funding for its business plans, uncertainty in the demand for Terremark’s services or products, Terremark’s 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.
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CONTACT:
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