New Issue: Terremark sells $75 million 9½% three-year notes at 99 to yield 9.89%

By Paul A. Harris

St. Louis, Nov. 8 - Terremark Worldwide, Inc. priced a $75 million add-on to its 9½% senior secured second-lien notes due 2013 at an issue price of 99 to yield 9.89% on Monday, according to an informed source.

Credit Suisse ran the books for the quick-to-market deal.

The Miami-based information technology company will use the proceeds for working capital and other general corporate purposes to support the growth of its business, which may include capital investments to build out facilities.

Issuer:	Terremark Worldwide, Inc.
Face amount:	$75 million add-on
Proceeds:	$74.25 million
Maturity:	Nov. 15, 2013
Security description:	Senior secured second-lien notes
Bookrunner:	Credit Suisse
Coupon:	9½%
Price:	99.00
Yield:	9.89%
Spread:	939 bps
Call:	Callable until May 15, 2011 at 104, then 102 until May 15, 2012, par thereafter
Trade date:	Nov. 8
Settlement date:	May 16
Distribution:	Rule 144A and Regulation S with registration rights
Marketing:	Quick to market

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