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CIENA CORP 8-K Report (Nov 18, 2003)

Reports
Other Events
Filing Date
Filed November 18, 2003
Period End
November 17, 2003
Security
CIEN
In the record · 2016–202610-K1010-Q338-K105

CIEN filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 105 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’16Apr ’16
  2. FY2018 annual report10-K · Dec ’18Dec ’18
  3. Leadership change8-K · Apr ’21Apr ’21
  4. Leadership change8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K filed November 18, 2003. Cited figures are marked; the original filing is the authoritative source.

Ciena Corporation (CIEN) has filed an 8-K report on November 18, 2003, announcing its intention to redeem all outstanding 5%a Convertible Subordinated Notes due October 15, 2005.

These notes, originally issued by ONI Systems Corp., were assumed by Ciena following its acquisition of ONI in June 2002. The total principal amount of these notes currently outstanding is approximately $48 millionb. This redemption, scheduled for December 19, 2003, represents a significant financial action.

Ciena will pay noteholders 102%c of the outstanding principal amount, plus any accrued interest, effectively retiring this debt obligation. Investors should note this action as it impacts the company's debt structure and cash outflow.

02—Key points

Key Highlights

  1. Ciena Corporation is initiating a full redemption of its 5% Convertible Subordinated Notes due October 15, 2005.
  2. The notes were originally issued by ONI Systems Corp. and assumed by Ciena after the acquisition of ONI in June 2002.
  3. Approximately $48 million in principal amount of these notes is currently outstanding.
  4. The redemption date is set for December 19, 2003.
  5. Ciena will pay noteholders 102% of the outstanding principal amount, plus accrued interest.
  6. This action aims to retire the outstanding convertible debt.

03—Questions

Frequently Asked Questions

  1. What is the purpose of this 8-K filing?

    The 8-K filing announces Ciena Corporation's decision to redeem all of its outstanding 5% Convertible Subordinated Notes due October 15, 2005.

  2. What is the total value of the notes being redeemed?

    The total principal amount of the outstanding notes being redeemed is approximately $48 million.

  3. When will the redemption take place?

    The redemption is scheduled to occur on December 19, 2003.

  4. What will noteholders receive upon redemption?

    Noteholders will receive 102% of the outstanding principal amount of their notes, in addition to any accrued interest up to the redemption date.

  5. Why is Ciena redeeming these notes?

    While the filing doesn't explicitly state the reason, companies typically redeem debt to manage their capital structure, reduce interest expenses, or eliminate potential future dilution from convertible securities. This action suggests Ciena is proactively managing its debt obligations.

04—Continue

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