Ad hoc-Service: Cybernet Internet Svcs.
1999-08-27 um 17:32:48
Ad hoc-Mitteilung verarbeitet und übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist der Emittent verantwortlich. --------------------------------------------------
Cybernet sold $75 million Convertible Senior Notes
Munich, 27 August, 1999 - Cybernet Internet Services International, Inc. (NASDAQ: ZNET / FSE: 906623) today announced that it has completed another private offering of its debt securities to Qualified Institutional Buyers in the United States and Europe. These securities sold consist of 13% Convertible Senior Subordinated Discounted Notes due 2009, with an aggregate initial accreted value of approximately $50,000,000 (the "Discounted Notes"), and 13% Convertible Senior Subordinated Pay-in-Kind Notes due 2009 in an aggregate principal amount of Euros 25,000,000 (the "Pay-in-Kind Notes"). Cash interest on the Discount Notes will begin to accrue on August 15, 2004 and will be paid in cash semi-annually thereafter. Interest on the Pay-In-Kind Notes will be paid in the form of additional notes through August 15, 2004 and will be paid in cash. The net proceeds of this offering, together with net proceeds of Cybemet's previously announced private offering of Units consisting of the 14% Senior Notes and warrants will be used for general corporate purposes and to fund capital expenditures, including development of Cybernet's switched network in Europe, the construction of data centers and additional acquisitions.
Cybernet is a major communication provider for enterprises based in Germany, Austria, Switzerland and Italy. Cybernet offers a full range of services and solutions geared towards helping businesses to get high quality access to the internet and develop and run their own Internet systems. Cybernet also provides value added services including virtual private networks (VPNs), Web hosting and collocation, security, electronic commerce, Intranet and workflow solutions. Cybernet Internet Services International, Inc. heads the Cybernet group of companies consisting of Cybernet Internet-Dienstleistungen AG, Germany, Vianet AG, Austria, Sunweb SIS AG, Switzerland and Eclipse S.p.A. and Flashnet. S.p.A., Italy. Shares of Cybemet Internet Services International, Inc.. USA are traded at the Neuer Markt, Frankfurt Stock Exchange (FSE: 906 623) and at NASDAQ OTC Bulletin Board (ZNET).
The statements contained in the news release include certain predictions and projections that may be considered forward- looking statements under securities laws. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially, including, but not limited to, the performance of the industry, certain customers and affiliated companies, as well as other economic, competitive, governmental and technological factors involving the Company's operations, markets, services, products and prices.
Further Information:
Cybernet Internet Services International, Inc. Tel.:+49 (0) 89 99 315-0 E-Mail: pr@cybernet-international.com
Pressecontact: Alexandra Klemma Fax: +49 (0) 89 99 315-324 Internet: http://www.cybernet-international.com
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