Savvis plans tender for all $345 million of 3% convertibles due 2012

By Devika Patel

Knoxville, Tenn., July 1 - Savvis, Inc. said it has launched a tender offer for all $345 million of its 3% convertible senior notes due 2012.

The offer expires at midnight ET on July 29.

The company will pay $990 per $1,000 of notes plus interest to, but not including, the settlement date.

Savvis expects to fund the tender from borrowings under new senior secured credit facilities, which Savvis expects to complete prior to the end of the tender period.

BofA Merrill Lynch, Morgan Stanley & Co. Inc., Credit Suisse Securities (USA) LLC and SunTrust Robinson Humphrey, Inc. are the dealer managers for the tender. Global Bondholder Services Corp. (212 430-3774 or 866 470-3900) is the information agent and depositary.

Savvis is a Town & Country, Mo.-based provider of information technology services.

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