Sunday, March 7, 2010

Ciena to Sell $250 Million in Convertible Senior Notes Due 2015

Ciena intends to sell approximately $250 million in aggregate principal amount of Convertible Senior Notes due 2015 in a private offering to qualified institutional buyers. Ciena intends to use approximately $243.8 million of the net proceeds of this offering to replace its existing contractual obligation to issue $239 million in 6% senior convertible notes due 2017 as part of the aggregate purchase price for its pending acquisition of the optical networking and carrier Ethernet assets of Nortel's Metro Ethernet Networks (MEN) business.