New Issue: Infocrossing $60 million convertible yields 4.0%, up 21%

Nashville, June 25 - Infocrossing Inc. sold $60 million of 20-year convertible senior notes at par to yield 4.0% with a 21% initial conversion premium via bookrunner Lehman Brothers.

Leonia, N.J.-based Infocrossing, which provides selective IT and business processing solutions, said proceeds would be used to repay $40 million of outstanding debt that bears an interest rate of 9%, to fund potential acquisitions and for general corporate purposes.

Terms of the deal are:

Issuer:	Infocrossing Inc.
Issue:	Convertible senior notes
Bookrunner:	Lehman Brothers
Amount:	$60 million
Greenshoe:	$12 million
Maturity:	June 15, 2024
Coupon:	4.0%
Price:	Par
Yield:	4.0%
Conversion premium:	21%
Conversion price:	$15.36
Conversion ratio:	65.1042
Contingent conversion:	130%
Dividend protection:	Unknown
Takeover protection:	Unknown
Call:	Non-callable for 5 years
Put:	In years 7, 10 and 15
Pricing date:	June 24, after the close
Settlement date:	June 30
Distribution:	Rule 144A

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