New Issue: Terremark sells $75 million convertible at 9.0%, up 38.9% in private placement

Nashville, June 9 - Terremark Worldwide Inc. announced Wednesday that it has sold $75 million of five-year convertible senior notes with a 9.0% coupon and 38.9% initial conversion premium in a private placement.

The Miami-based company, which provides internet and network exchange services, said proceeds would be used to repay debt, for possible acquisitions and for general corporate purposes, including working capital and capital expenditures.

Terms of the deal are:

Issuer:	Terremark Worldwide Inc.
Issue:	Convertible senior notes
Amount:	$75 million
Greenshoe:	$11.25 million
Maturity:	June 15, 2009
Coupon:	9.0%
Price:	Par
Yield:	9.0%
Conversion premium:	38.9%
Conversion price:	$1.25
Conversion ratio:	800.0000
Call:	Non-callable for 3 years, then with 200% trigger and 50% coupon make-whole
Pricing date:	June 8, after the close
Settlement date:	June 14
Distribution:	Private placement

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