Summary
CIENA CORP (CIEN) filed an 8-K on June 22, 2016, to report a significant transaction involving its outstanding convertible senior notes. On June 21, 2016, the company repurchased approximately $29.5 million in aggregate principal amount of its 0.875% Convertible Senior Notes due 2017. This repurchase was conducted in a private transaction for a total cost of approximately $29.5 million, which included accrued interest. This action effectively reduces the principal amount of outstanding debt related to these specific notes. Following the repurchase, $450,465,000 in aggregate principal amount of the 2017 Notes still remain outstanding. Investors should note this debt management activity as it impacts the company's capital structure and future interest obligations.
Key Highlights
- 1Ciena Corporation repurchased $29.5 million in aggregate principal amount of its 0.875% Convertible Senior Notes due 2017.
- 2The repurchase occurred on June 21, 2016, in a private transaction.
- 3The aggregate purchase price was approximately $29.5 million, including accrued interest.
- 4This action reduces the outstanding principal of the 2017 Notes.
- 5Following the repurchase, $450,465,000 in aggregate principal amount of the 2017 Notes remain outstanding.