NetApp Prices $1,000,000,000 of Senior Notes

Wed Dec 5, 2012 6:36pm EST

* Reuters is not responsible for the content in this press release.

  SUNNYVALE, CA, Dec 05 (Marketwire) -- 
NetApp, Inc. (NASDAQ: NTAP) today announced the pricing of $750,000,000
in aggregate principal amount of its 2.00% senior notes due 2017 (the
"2017 notes") and $250,000,000 in aggregate principal amount of its 3.25%
senior notes due 2022 (the "2022 notes"). 

    The offering is expected to close, subject to customary closing
conditions, on December 12, 2012. The 2017 notes were priced to yield
2.107% and the 2022 notes were priced to yield 3.344%.

    NetApp intends to use the net proceeds from this offering for general
corporate purposes, which may include repayment of certain indebtedness,
capital expenditures, possible stock repurchases, working capital and
potential acquisitions and strategic transactions.

    J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as
joint book-running managers. Citigroup Global Markets Inc., Goldman,
Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells
Fargo Securities, LLC are acting as co-managers.

    This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the senior notes or any other
securities nor shall there be any sale of the senior notes or any other
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state. The offering of senior notes may be made only by
means of a preliminary prospectus supplement and the accompanying
prospectus, copies of which can be obtained from:

    J.P. Morgan Securities LLC
 383 Madison Ave.
 New York, New York 10179

Attention: Investment Grade Syndicate Desk
 Tel: (212) 834-4533
(212) 834-6081

    Morgan Stanley & Co. LLC
 180 Varick Street
 New York, New York 10014

Attention: Prospectus Department
 Tel: (866) 718-1649

    About NetApp
 NetApp creates innovative storage and data management
solutions that deliver outstanding cost efficiency and accelerate
business breakthroughs. Discover our passion for helping companies around
the world go further, faster.

    Cautionary Statement: 
 The statements in this release relating to the
terms and timing of the proposed offering and the expected use of
proceeds from the offering are forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements involve risks and uncertainties that could
cause actual results to differ materially, including, but not limited to,
whether or not NetApp will consummate the offering, prevailing market
conditions, the anticipated use of the proceeds of the offering which
could change as a result of market conditions or for other reasons,
interest rates and corporate considerations and the impact of general
economic, industry or political conditions in the United States or

    Investors in NetApp's securities are cautioned not to place undue
reliance on its forward-looking statements, which speak only as of the
date such statements are made. NetApp does not undertake any obligation
to publicly update any forward-looking statements to reflect events,
circumstances or new information after this December 5, 2012 press
release, or to reflect the occurrence of unanticipated events. 


Press Contact: 
Ryan Lowry 
(408) 822-7544 

Investor Contact:
Kris Newton
(408) 822-3312 

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