Akamai Announces Debt Repurchase

HostReview.com
Tuesday, December 21, 2004; 04:12 PM

Akamai Technologies, Inc. (www.akamai.com) today announced that on December 17, 2004 it repurchased an additional $24.9 million in principal amount of its 5 1/2% Convertible Subordinated Notes due 2007 ("the 5 1/2% Notes").

In total, the Company has repurchased $243.4 million in principal amount of its 5 1/2% Notes, leaving an aggregate of $56.6 million in principal amount of the 5 1/2% Notes outstanding. To effect the most recent repurchase, the Company paid a total of $26.1 million in cash to an institutional investor, including accrued interest as of the closing date.

Akamai distributes computing solutions and services, making the Internet predictable, scalable, and secure for conducting profitable e-business. The Akamai on-demand platform enables customers to easily extend their Web operations â€" with full control â€" anywhere, anytime, without the cost of building out infrastructure. Headquartered in Cambridge, Massachusetts, Akamai serves hundreds of today's most successful enterprises and government agencies around the globe.