Cisco (CSCO) Announces Pricing for Unsecured Senior Notes at $5B
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Cisco (NASDAQ: CSCO) today announced the pricing of three series of senior unsecured notes for an aggregate principal amount of $5 billion. The offering is expected to close on November 17, 2009.
Of these notes, $500 million will mature in November 2014 and will bear interest at an annual rate of 2.90%, $2.5 billion will mature in January 2020 and will bear interest at an annual rate of 4.45%, and $2 billion will mature in January 2040 and will bear interest at an annual rate of 5.50%. The 2.90% notes due November 2014, the 4.45% notes due January 2020, and the 5.50% notes due January 2040 were priced to yield 2.955%, 4.469% and 5.679%, respectively.
Cisco intends to use the net proceeds from this offering for general corporate purposes.
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