Ciena Corporation Announces Pricing of $2.875 Billion Convertible Senior Notes Offering

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The offering includes an option for initial purchasers to acquire an additional $375 million aggregate principal amount of Notes. The Company intends to use the net proceeds for general corporate purposes, including investments to enhance supply chain capacity, repurchasing shares of its common stock, and repaying amounts outstanding under its senior secured term loan. The offering is accompanied by convertible note hedge transactions and warrant transactions, which are expected to reduce the potential dilution upon conversion of the Notes and offset any cash payments the Company is required to make in excess of the principal amount of converted Notes. Additionally, the Company amended its Credit Agreement to extend the maturity date of the Revolving Facility and remove the credit spread adjustment applicable to SOFR-based borrowings.

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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.