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Juniper Networks gives tender results for 3.3% notes and 4.6% notes
Chicago, Aug. 23 – Juniper Networks, Inc. announced the expiration and tenders results for any and all of its $300 million outstanding 3.3% senior notes due 2020 and any and all of its $300 million outstanding 4.6% senior notes due 2021.
The tender offer expired at 5 p.m. ET on Aug. 23.
As of the expiration time, $193,764,000 or 64.6% of the $300 million principal amount of the 2020 notes were tendered.
And, $112,751,000 or 37.6% of the $300 million principal amount of the 2021 notes had been validly tendered and not withdrawn in the offer, which excludes $207,000 aggregate principal amount of the 2021 notes that remain subject to guaranteed delivery procedures.
The tender offer consideration to be paid for the 2020 notes will be $1,009.53 per $1,000 principal amount.
The consideration to be paid for the 2021 notes will be $1,042.63 per $1,000 principal amount.
In addition, holders will receive accrued interest from the last interest payment date to, but excluding, the settlement date. Juniper expects the settlement date to occur on Aug. 26.
The total offer consideration of $316,748,765.37, which includes accrued interest but excludes the 2021 notes that remain subject to guaranteed delivery procedures, will be funded from the net proceeds from the previously announced issuance and sale by Juniper of its 3.75% senior notes due 2029.
The company intends to redeem all the notes that have not been tendered on the Sept. 25, the anticipated redemption date.
Barclays (800 438-3242 or 212 528-7581), BofA Securities (888 292-0070 or 980 387-3907) and Citigroup (800 558-3745 or 212 723-6106) are the dealer managers for the tender offer.
D.F. King & Co., Inc. (800 967-7510 or juniper@dfking.com, www.dfking.com/juniper) is the tender agent and information agent.
Juniper is a Sunnyvale, Calif.-based networking technology company.
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