INAP successfully completes refinancing of $300 million of senior secured debt


ATLANTE, April 6, 2017 /PRNewswire/ — Internap Corporation (NASDAQ: INAP), (“INAP” or the “Company”), a provider of high-performance Internet infrastructure comprising colocation, cloud and network services, today announced that he closed the $325 million into new credit facilities to complete the refinancing of its senior secured debt in an oversubscribed transaction. The new facility provides INAP with additional flexibility to support its long-term growth objectives, including less restrictive debt and interest coverage covenants. The senior term loan and the revolver will both be priced at Libor +700 and reflect a current corporate rating of B3/B.

“Today marks a significant achievement of one of the many financial goals we envisioned for INAP’s new chapter of success,” said Peter D. Aquino, CEO of INAP. “Now that the balance sheet is refinanced with the structure and flexibility to run our business for the long term, we can focus on our advantages to capture the growing demand for colocation, cloud and network connectivity in the global markets we serve. This is a very exciting step for the Company, and I would like to thank our employees and the members of the INAP Board of Directors for their support in this accelerated effort, as well as our customers, our shareholders and our new lenders.”

The company’s advisers included Jefferies LLC as lead arranger for the credit facilities and Jenner & Block LLP as legal counsel to the company.

About Internap Corporation

Internap Corporation (NASDAQ: INAP) is a leading provider of Internet infrastructure technology through enterprise and enterprise colocation services (including network connectivity, IP, bandwidth, and managed hosting) and cloud services (including enterprise-grade AgileCLOUD 2.0, Bare-Metal servers, and SMB iWeb platforms). INAP’s high-capacity global network connects 15 company-controlled Tier 3 data centers in major North America, 34 wholesale partner facilities and points of presence in 26 central business districts around the world. INAP continues to transform since its inception in 1996, responding to customer demand for customized solutions and state-of-the-art colocation and cloud products and services. INAP now operates a premium business model that also provides high power density colocation, low latency bandwidth, and public and private cloud platforms in a growing Internet infrastructure industry. For more information, visit www.inap.com.

INAP investor contacts
Richard Ramlall
404-302-9982
[email protected]

Caroline Capaccio/Jody Burfening
LHA
212-838-3777
[email protected]

SOURCE Internap Corporation

Related links

http://www.inap.com

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