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Juniper Networks Inc prices $350 million senior notes offering and executes $1.2 billion accelerated share repurchase program


Thursday, 27 Feb 2014 08:04pm EST 

Juniper Networks Inc:Announced the pricing of $350 million aggregate principal amount of its 4.500 pct senior notes due 2024.The offering is expected to close on March. 4, 2014.Says the Notes will mature on March 15, 2024 and bear interest at an annual rate of 4.500 pct.Says it intends to use the net proceeds from this offering for general corporate purposes.Also entered into separate accelerated share repurchase (ASR) agreements with Barclays Bank PLC and Goldman, Sachs & Co.To repurchase an aggregate of $1.2 billion of its common stock as part of Juniper's capital allocation plan announced on Feb. 20, 2014.Intends to use its cash on hand to fund its obligations under the ASR agreements.Barclays Capital Inc. and Goldman, Sachs & Co. are acting as joint book running managers. 

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26.91
0.48 +1.82%
1 May 2015