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

By Devika Patel

Knoxville, Tenn., July 30 - Savvis, Inc. said it has extended the deadline of a tender offer for all $345 million of its 3% convertible senior notes due 2012.

The offer, which launched July 1, expires at 8 a.m. ET on Aug. 3, extended from midnight ET on July 29. As of the close of business on July 29, about $339 million in convertibles had been tendered.

The company will pay $990 per $1,000 in 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.

Bank of America 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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