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Ciena Corporation (NYSE: CIEN) has initiated a private offering of Senior Notes maturing in 2030, subject to market conditions. The Notes will be guaranteed by certain domestic subsidiaries. The company plans to utilize the net proceeds from this offering for general corporate purposes. The offering will comply with Rule 144A and Regulation S under the Securities Act, targeting qualified institutional buyers and non-U.S. persons. Notably, this offering will not be registered under the Securities Act, limiting its availability.
Positive
Ciena plans to utilize net proceeds from the Senior Notes offering for general corporate purposes, potentially supporting growth initiatives.
Negative
The offering may lead to shareholder dilution if the Notes are converted into equity in the future.
HANOVER, Md.--(BUSINESS WIRE)--
Ciena Corporation (NYSE: CIEN) (“Ciena”) today announced that it has commenced a private offering of Senior Notes due 2030 (the “Notes”), subject to market and other conditions. The Notes will be guaranteed by certain of Ciena’s direct and indirect existing and future domestic subsidiaries. Ciena intends to use the net proceeds from the sale of the Notes for general corporate purposes.
This communication does not constitute an offer to sell or the solicitation of an offer to buy the Notes or related guarantees, nor shall there be any offer or sale of the Notes or related guarantees in any jurisdiction in which such offer, solicitation or sale would be unlawful. The offer and sale of the Notes and related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.
The Notes and related guarantees will be offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act, and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.
About Ciena
Ciena (NYSE: CIEN) is a networking systems, services and software company. We provide solutions that help our customers create the Adaptive Network™ in response to the constantly changing demands of their end-users. By delivering best-in-class networking technology through high-touch consultative relationships, we build the world’s most agile networks with automation, openness and scale. For updates on Ciena, follow us on Twitter @Ciena, LinkedIn, the Ciena Insights blog, or visit www.ciena.com.
Note to Ciena Investors
You are encouraged to review the Investors section of our website, where we routinely post press releases, SEC filings, recent news, financial results, and other announcements. From time to time we exclusively post material information to this website along with other disclosure channels that we use. This press release contains certain forward-looking statements that are based on our current expectations, forecasts, information and assumptions. These statements involve inherent risks and uncertainties. Actual results or outcomes may differ materially from those stated or implied, because of risks and uncertainties, including those detailed in our most recent annual and quarterly reports filed with the Securities and Exchange Commission. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies and can be identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words. Ciena assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
What are the details of Ciena's Senior Notes offering?
Ciena initiated a private offering of Senior Notes due 2030, intended for general corporate purposes, targeting qualified institutional buyers and non-U.S. persons.
How will the funds from the Senior Notes be used?
The net proceeds from the Senior Notes offering will be used for general corporate purposes.
What is the impact of the Senior Notes offering on Ciena's shareholders?
The offering could result in shareholder dilution if the Notes are converted into equity.
Are the Senior Notes registered under the Securities Act?
No, the Senior Notes and related guarantees will not be registered under the Securities Act.
