Ad hoc Service: Cybernet


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573 Postings, 7847 Tage BanditAd hoc Service: Cybernet

 
  
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27.08.99 17:46


                         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

                        Ende der Mitteilung

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