ST. LOUIS, Mo., — June 30, 2008 — SAVVIS, Inc. (NASDAQ:SVVS), a global leader in IT infrastructure services for business applications, today announced that its subsidiary, SAVVIS UK Ltd., has obtained a five-year, £35 million (approximately $69 million) credit facility with Lombard North Central Plc. SAVVIS UK will use the credit facility to fund construction of its Slough, U.K. data center first announced in December 2007 and scheduled for opening in the fourth quarter of 2008.
SAVVIS Chief Financial Officer Jeff Von Deylen commented, “This new credit facility funds construction of a high-quality SAVVIS data center featuring state-of-the-art managed hosting and managed network capabilities in one of the world’s strongest markets for IT infrastructure services. By arranging financing in the United Kingdom, we have eliminated the negative economic impact of current exchange rates while ensuring an attractive rate structure. We are very excited about our opportunity to grow globally while maintaining our judicious approach to capital spending.”
The five-year term of the facility begins on completion of the construction of the data center, with quarterly interest-only payments for the first two years. The interest rate is one- or three-month GBP LIBOR plus 2.8%, and SAVVIS UK has the option of fixing the rate at the available lender swap rate plus 2.8% for a minimum of three years up to the remainder of the Facility’s term or any six-month increment thereof. For full details on the terms of the facility, please see SAVVIS’ Form 8-K to be filed with the U.S. Securities and Exchange Commission on or before July 3, 2008.
“The new Slough data center supports SAVVIS’ global expansion by providing additional capacity to accommodate the growth of our existing customers for years to come,” said Richard Warley, International Managing Director for SAVVIS. “It also allows us to expand our solution sets to offer new customers a broad range of IT infrastructure services ranging from colocation hosting and network services to managed and virtualized IT infrastructure services.”
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from SAVVIS’ expectations. Certain factors that could affect actual results, including but not limited to risks related to changes in interest rates, are set forth as risk factors described in SAVVIS’ SEC reports and filings, including its annual report on Form 10-K and all subsequent filings. SAVVIS encourages investors to review those factors carefully before making any investment decision. The forward-looking statements contained in this document speak only as of today’s date, June 30, 2008, and the company will not undertake efforts to revise those forward-looking statements to reflect events after this date.
SAVVIS, Inc. (NASDAQ: SVVS) is a global leader in IT infrastructure services for enterprise applications. With an IT services platform spanning North America, Europe, and Asia, SAVVIS leads the industry in delivering secure, reliable, and scalable hosting, network, and application services. These solutions enable customers to focus on their core business while SAVVIS ensures the quality of their IT systems and operations. SAVVIS’ strategic approach combines virtualization technology, a global network and multiple data centers, and automated management and provisioning systems. For more information about SAVVIS, visit www.savvis.net.: