Cisco Prices $5 Bn of Senior Unsecured Notes

Cisco-Prices-$5-Bn-of-Senior-Unsecured-NotesCisco today announced the pricing of five series of senior unsecured notes for an aggregate principal amount of $5 billion.

The offering is expected to close on June 17, 2015, subject to customary closing conditions.

Of these notes, $900 million will mature in June 2018 and will bear interest at a floating rate equal to three-month LIBOR plus 31 basis points, $1.6 billion will mature in June 2018 and will bear interest at an annual rate of 1.65 percent, $1.5 billion will mature in June 2020 and will bear interest at an annual rate of 2.45 percent, $500 million will mature in June 2022 and will bear interest at an annual rate of 3 percent and $500 million will mature in June 2025 and will bear interest at an annual rate of 3.5 percent.

Cisco intends to use the net proceeds from this offering for general corporate purposes, including to return capital to shareholders pursuant to its previously-announced capital allocation strategy through the repurchase of shares of its common stock and the payment of cash dividends.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The offering of securities may be made only by means of a prospectus supplement and accompanying prospectus.

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