Ciena prices upsized USD 2.5 billion 0% convertible senior notes due 2031

Ciena Corporation

Ciena Corporation

CIEN

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  • Ciena priced an upsized private offering of USD 2.5 billion 0.00% convertible senior notes due 2031.
  • Deal size increased from USD 2 billion; initial purchasers hold an option for an additional USD 375 million of notes.
  • Net proceeds earmarked for a USD 1.14 billion term-loan repayment; USD 140 million for a concurrent share repurchase.
  • Notes convert at 1.3393 shares per USD 1,000, implying a USD 746.66 conversion price, a 60% premium to June 8 close.
  • Offering expected to close June 11, 2026; Ciena also entered into note hedge and warrant transactions tied to the issuance.


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