Infinera privately negotiates with holders to buy back convertibles due 2024

Chicago, May 17 – Infinera Corp. worked with investors on Tuesday on an agreement to repurchase $83.9 million of the company’s 2.125% convertible senior notes due 2024, according to an 8-K filing with the Securities and Exchange Commission.

The purchase price on the buyback will be determined over a 20-day trading period.

After the notes are repurchased, there will be $18.7 million principal amount of the convertibles outstanding.

The company concurrently announced the sale of $100 million of new 3.75% convertible senior notes due 2028 via privately negotiated agreements.

Infinera is a San Jose, Calif.-based global supplier of optical networking equipment.

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