InterXion tenders, seeks consents for €260 million 9½% notes due 2017

By Susanna Moon

Chicago, June 3 - InterXion Holding NV said it began a tender offer and consent solicitation for its €260 million of outstanding 9½% senior secured notes due 2017.

Interxion is soliciting consents to amend the notes to eliminate or modify substantially all of the restrictive covenants and events of default and related provisions, according to a company press release.

The total purchase price will be €1,102 for each €1,000 principal amount of notes tendered by 5 p.m. ET on June 14, the consent payment deadline.

The total payment includes a consent payment of €10.00 per €1,000 of notes.

Those who tender after the consent deadline will receive €1,092 per €1,000 of notes.

The offer will end at 11:59 p.m. ET on June 28.

The company also will pay accrued interest up to but excluding the settlement date.

Holders who tender notes in the tender offer are deemed to consent to the proposed amendments.

The proposed amendments require the consent from holders of at least a majority of the outstanding notes, the company said.

Tendered notes may be withdrawn by the consent payment deadline.

Holders must tender notes in minimum denominations of €50,000 and integral multiples of €1,000, unless a holder tenders all notes held by the holder, the release noted.

The company said it plans to call all notes that remain outstanding after the offer at a make-whole redemption price.

The offer is conditioned on the issue of new euro senior secured notes with enough proceeds to fund the offer, the post-closing redemption and the entry into a new revolving credit facility, the company noted.

Lucid Issuer Services Ltd. (+44 20 7704 0880, attn: Sunjeeve Patel, or email interxion@lucid-is.com) is the tender and information agent. Barclays Bank plc (+44 20 7773 8990 or email eu.lm@barclays.com) is the dealer manager and consent solicitation agent.

InterXion is a Tupolevlaan, Netherlands-based provider of premium carrier-neutral data centers.

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