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Terremark Worldwide prices $75M senior notes

Mon, 11/08/2010 - 10:05am
The Associated Press

Terremark Worldwide Inc. is pricing $75 million senior secured second lien notes at an issue price of 99 percent of principal value.

The information technology services provider plans to use the proceeds for working capital and other general corporate purposes such as investments in facilities.

Terremark said Monday that it expects the offering of the 9.5 percent notes due in 2013 to close on Nov. 16.

Shares of Terremark gained 13 cents to $11.75 in afternoon trading. The stock hit a fresh 52-week high of $11.82 earlier in the session.

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