Ciena Corporation
Ciena Corporation Announces Refinancing of Senior Secured Term Loan
Summary
On January 17, 2025, Ciena Corporation, through its subsidiaries, refinanced its existing senior secured term loan of approximately $1.16 billion with a new single tranche of senior secured term loans in the same amount. The refinancing was accomplished through a Refinancing Amendment to the Credit Agreement dated January 17, 2025. The new term loan matures on October 24, 2030, and carries interest at SOFR plus 1.75% or a base rate plus 0.75%, at Ciena's election. The refinancing was used to repay the existing term loan in full, including accrued interest, and to cover transaction fees and expenses.
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About Ciena Corporation
Ciena Corporation is a prominent player in the telecommunications equipment and network strategy sector. The company primarily focuses on providing solutions that facilitate high-capacity, adaptable networking through optical communications. Ciena's offerings include networking systems, services, and software, expertly designed to enhance the performance of communication networks globally. These solutions serve key industries such as telecommunications, cable, and enterprise businesses, enabling them to manage and optimize vast volumes of data traffic efficiently. By deploying Ciena's technology, organizations can improve network reliability, scalability, and speed, addressing the ever-growing demand for seamless data connectivity and communication. Headquartered in Hanover, Maryland, Ciena Corporation plays a critical role in the market as it adapts to technological advancements and trends such as 5G, cloud migration, and the increasing necessity for robust digital infrastructure. Through its pioneering developments, Ciena continues to contribute to the transformation of global communication networks.
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