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: www.cybernet-international.com
Ende der Mitteilung
Weitere News, Termine und Zahlen zum NM gibts unter:
www.finance-city.de/Boerse/bandit/
