NetApp Announces $800 Million Senior Note Offering
On September 26, 2017, NetApp, a leader in data insight, access, and control for hybrid cloud environments, announced the pricing of $400 million in aggregate principal amount of its 2.00 percent senior notes due 2019 that will bear interest at 2.00 percent per annum and $400 million in aggregate principal amount of its 3.30 percent senior notes due 2024 that will bear interest at 3.30 percent per annum. WSGR represented NetApp in the offering, which closed on September 29, 2017.
According to a press release, NetApp intends to use the net proceeds from this offering for general corporate purposes, including repayment of $750 million in aggregate principal amount of NetApp's outstanding 2.00 percent senior notes due 2017 (including accrued and unpaid interest and any make-whole payment thereon) on or prior to their maturity in December 2017.
J.P. Morgan Securities, Morgan Stanley & Co., Citigroup Global Markets, Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith, MUFG Securities Americas, and Wells Fargo Securities acted as joint book-running managers.
Click here to read NetApp's press release.