About Internap
Internap Network Services Corporation Closes $35 Million Credit Facility to Support Growth InitiativesATLANTA, GA – (September 17, 2007) – Internap Network Services Corporation (NASDAQ: INAP), a global provider of end-to-end Internet business solutions, today announced that it closed a new four-year senior secured credit facility from Bank of America, N.A. The facility consists of a $5 million revolving credit facility, which may be increased by $15 million and includes a $5 million sub-limit for letters of credit and a $30 million term loan facility. The revolving credit facility is available to finance working capital, capital expenditures and other general corporate purposes. The proceeds from the term loan will be used to refinance existing indebtedness and to fund Internap’s capital expenditures related to the expansion of its colocation facilities. The interest rate on the credit facility is a tiered LIBOR-based rate that depends on Internap’s 12-month trailing EBITDA. “Internap is focused on capturing the significant growth opportunities before us while operating the business with prudent cost controls,” said David A. Buckel, chief financial officer of Internap. “Our strong financial performance and balance sheet has enabled us to secure a favorable credit facility despite a challenging macro economic environment. This financing will support our expansion initiatives in a cost effective and flexible manner and allow us to execute against our aggressive business plan.” About Internap Internap “Safe Harbor” Statement Our Annual Report on Form 10-K/A, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K and other Securities and Exchange Commission filings discuss the foregoing risks, as well as other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. We undertake no obligation to revise or update any forward-looking statement for any reason. Press Contact: Investor Contact:
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