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Akamai Announces Debt Repurchases
CAMBRIDGE, MA, January 8, 2004 -- Akamai Technologies, Inc. (NASDAQ: AKAM) today announced that it has repurchased, in several individually negotiated transactions, an aggregate of $99 million in principal amount of its 5 1/2% Convertible Subordinated Notes due 2007. Following these repurchases, an aggregate of $201 million in principal amount of the 5 1/2% Convertible Subordinated Notes due 2007 remains outstanding.
The Company paid a total of $98.9 million in cash to certain institutional investors to repurchase and retire the Notes. As a result of the repurchases, the Company expects to realize interest savings of $5.45 million annually through June 2007.
About Akamai
Akamai®—The Business Internet, is the world's largest on demand distributed computing platform for conducting profitable e-business. Overcoming the inherent limitations of the Internet, Akamai's services ensure a high-performing, scalable, and secure environment for organizations to cost effectively extend and control their e-business infrastructure. Headquartered in Cambridge, Massachusetts, Akamai's industry-leading services, matched with world-class customer care, are used by hundreds of today's most successful enterprises and government agencies around the globe. For more information, visit www.akamai.com.
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Akamai Statement Under the Private Securities Litigation Reform Act
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995, including statements concerning expectations as to interest savings as a result of the repurchase of a portion of the Company's 5 1/2% Convertible Subordinated Notes due 2007. Actual results may differ materially from those indicated by these forward-looking statements as a result of factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
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Jeff Young Media Relations Akamai Technologies Inc. 617-444-3913 jyoung@akamai.com |
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Sandy Smith Investor Relations Akamai Technologies 617-444-2804 ssmith@akamai.com |
CAMBRIDGE, MA, January 8, 2004 -- Akamai Technologies, Inc. (NASDAQ: AKAM) today announced that it has repurchased, in several individually negotiated transactions, an aggregate of $99 million in principal amount of its 5 1/2% Convertible Subordinated Notes due 2007. Following these repurchases, an aggregate of $201 million in principal amount of the 5 1/2% Convertible Subordinated Notes due 2007 remains outstanding.
The Company paid a total of $98.9 million in cash to certain institutional investors to repurchase and retire the Notes. As a result of the repurchases, the Company expects to realize interest savings of $5.45 million annually through June 2007.
About Akamai
Akamai®—The Business Internet, is the world's largest on demand distributed computing platform for conducting profitable e-business. Overcoming the inherent limitations of the Internet, Akamai's services ensure a high-performing, scalable, and secure environment for organizations to cost effectively extend and control their e-business infrastructure. Headquartered in Cambridge, Massachusetts, Akamai's industry-leading services, matched with world-class customer care, are used by hundreds of today's most successful enterprises and government agencies around the globe. For more information, visit www.akamai.com.
Akamai Statement Under the Private Securities Litigation Reform Act
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995, including statements concerning expectations as to interest savings as a result of the repurchase of a portion of the Company's 5 1/2% Convertible Subordinated Notes due 2007. Actual results may differ materially from those indicated by these forward-looking statements as a result of factors that are discussed in the Company's Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other documents periodically filed with the SEC.
