Cisco talks benchmark five-part notes offering for Wednesday pricing

By Aleesia Forni

Virginia Beach, June 10 – Cisco Systems, Inc. is planning to sell senior notes in five tranches on Wednesday, according to an informed source and a 424B2 filed with the Securities and Exchange Commission.

The offering is expected to include three-year notes talked in the Treasuries plus 65 basis points area and three-year floaters talked in the Libor plus 44 bps area.

A five-year tranche is talked in the 80 bps area over Treasuries, and a seven-year tranche is talked in the area of Treasuries plus 105 bps.

A 10-year tranche of notes is talked in the Treasuries plus 125 bps area.

The joint bookrunners are Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., Morgan Stanley & Co. LLC, Wells Fargo Securities LLC, BofA Merrill Lynch and J.P. Morgan Securities LLC.

Proceeds will be used for general corporate purposes, including to return capital to shareholders through the repurchase of shares of common stock and cash dividends.

Based in San Jose, Calif., Cisco produces internet protocol-based networking and other communications and information technology products.

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