Juniper Networks Prices $600 Million Senior Notes Offering
February 26 2015 - 9:00AM
Business Wire
Juniper Networks (NYSE: JNPR) announced the pricing of $300
million aggregate principal amount of its 3.300% senior notes due
2020 (the “2020 senior notes”) and $300 million aggregate principal
amount of its 4.350% senior notes due 2025 (the “2025 senior notes”
and, together with the 2020 senior notes, the “notes”). The
offering is expected to close on March 4, 2015, subject to the
satisfaction of customary closing conditions.
The 2020 senior notes will mature on June 15, 2020 and bear
interest at an annual rate of 3.300%. The 2025 senior notes will
mature on June 15, 2025 and bear interest at an annual rate of
4.350%.
Standard & Poor’s has assigned a “BBB” corporate credit
rating to Juniper Networks and the proposed offering of the notes
with a stable outlook. Moody’s Investors Service has assigned a
“Baa2” rating to Juniper and the proposed offering of the notes
with a negative outlook.
Juniper intends to use the net proceeds from this offering for
general corporate purposes, which is expected to include share
repurchases and payment of dividends under its program to return
capital to shareholders and funding for working capital, capital
expenditures, other corporate expenses and acquisitions of
products, technologies or businesses; however, the Company does not
currently have any agreements with respect to any such material
acquisitions.
Barclays Capital Inc., Citigroup Global Markets Inc., Merrill
Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas
Securities Corp., Goldman, Sachs & Co., J.P. Morgan Securities
LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
are acting as joint book-running managers for the offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the notes nor shall there be
any sale of the notes 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 notes is being made only by means of a
prospectus supplement and an effective registration statement
(including a prospectus) filed with the Securities and Exchange
Commission. Copies of the prospectus supplement and accompanying
prospectus may be obtained from Barclays Capital Inc., c/o
Broadridge Integrated Distribution Service, 1155 Long Island
Avenue, Edgewood, NY 11717 or by calling (888) 603-5847; Citigroup
Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 or by calling (800) 831-9146; or
Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222
Broadway, New York, NY 10038 or by calling (800) 294-1322.
About Juniper Networks
Juniper Networks (NYSE: JNPR) delivers innovation across
routing, switching and security. From the network core down to
consumer devices, Juniper Networks’ innovations in software,
silicon and systems transform the experience and economics of
networking.
Juniper Networks and Junos are registered trademarks of Juniper
Networks, Inc. in the United States and other countries. The
Juniper Networks and Junos logos are trademarks of Juniper
Networks, Inc. All other trademarks, service marks, registered
trademarks, or registered service marks are the property of their
respective owners.
Safe Harbor
This press release contains forward-looking statements within
the meaning of the federal securities laws. These statements
involve risks and uncertainties that could cause actual results to
differ materially, including, but not limited to, whether or not
Juniper will consummate the offering, and the anticipated use of
the proceeds of the offering which could change as a result of
market conditions or for other reasons, interest rates and
corporate considerations and the impact of general economic,
industry or political conditions in the United States or
internationally, and other factors listed in Juniper Networks’ most
recent report on Form 10-K filed with the Securities and Exchange
Commission, the preliminary prospectus supplement relating to the
proposed offering filed with the Securities and Exchange Commission
and other reports Juniper Networks files with the Securities and
Exchange Commission. All statements made in this press release are
made only as of the date set forth at the beginning of this
release. Juniper Networks undertakes no obligation to update the
information in this release in the event facts or circumstances
subsequently change after the date of this press release, except as
required by applicable law.
Investor Relations:Juniper NetworksJoy Arcamo,
408-936-1311jarcamo@juniper.netorMedia Relations:Juniper
NetworksCindy Ta, 408-936-6131cta@juniper.net
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