Juniper offers $350 M in convertible notes

Wednesday, 28 May 2003, 07:00 Hrs
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SUNNYVALE: Juniper Networks, Inc. (Nasdaq:JNPR) Wednesday announced that it has agreed to sell 5-year zero-coupon senior convertible notes resulting in gross proceeds of $350 million, in a private offering.

The notes will be convertible, under certain circumstances, into common stock of Juniper Networks, the company announced in a press release. The initial purchaser of the notes will have an option to purchase additional notes which would result in additional gross proceeds to Juniper Networks of up to $50 million.

Juniper Networks expects to use the net proceeds for general corporate purposes, which may include acquisitions and repurchases of its outstanding subordinated notes or its common stock.
Source: IANS
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