NetApp Prices $1 Billion of Senior Notes
Including $750 million due 2017 and $250 million due to 2022
This is a Press Release edited by StorageNewsletter.com on December 6, 2012 at 3:00 pmNetApp, Inc. announced the pricing of $750,000,000 in aggregate principal amount of its 2.00% senior notes due 2017 and $250,000,000 in aggregate principal amount of its 3.25% senior notes due 2022.
The offering is expected to close, subject to customary closing conditions, on December 12, 2012. The 2017 notes were priced to yield 2.107% and the 2022 notes were priced to yield 3.344%.
NetApp intends to use the net proceeds from this offering for general corporate purposes, which may include repayment of certain indebtedness, capital expenditures, possible stock repurchases, working capital and potential acquisitions and strategic transactions.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers. Citigroup Global Markets Inc., Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are acting as co-managers.
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