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Cisco | 8-K: Entry into a Material Definitive Agreement

SEC ·  Feb 26 13:33

Summary by Moomoo AI

On February 26, 2024, Cisco Systems, Inc. completed a significant financial transaction by issuing a series of Senior Notes with varying maturities and interest rates, totaling $13 billion. The offering included 4.900% Senior Notes due 2026, 4.800% Senior Notes due 2027, 4.850% Senior Notes due 2029, 4.950% Senior Notes due 2031, 5.050% Senior Notes due 2034, 5.300% Senior Notes due 2054, and 5.350% Senior Notes due 2064. These notes were issued under an Indenture agreement with The Bank of New York Mellon Trust Company, N.A. as the trustee. The sale was conducted in accordance with an underwriting agreement dated February 21, 2024, involving major financial institutions such as BofA Securities, Barclays Capital, Citigroup Global Markets, Deutsche Bank Securities, J.P. Morgan Securities, and Wells Fargo Securities. Cisco intends to use the proceeds for general corporate purposes, which includes...Show More
On February 26, 2024, Cisco Systems, Inc. completed a significant financial transaction by issuing a series of Senior Notes with varying maturities and interest rates, totaling $13 billion. The offering included 4.900% Senior Notes due 2026, 4.800% Senior Notes due 2027, 4.850% Senior Notes due 2029, 4.950% Senior Notes due 2031, 5.050% Senior Notes due 2034, 5.300% Senior Notes due 2054, and 5.350% Senior Notes due 2064. These notes were issued under an Indenture agreement with The Bank of New York Mellon Trust Company, N.A. as the trustee. The sale was conducted in accordance with an underwriting agreement dated February 21, 2024, involving major financial institutions such as BofA Securities, Barclays Capital, Citigroup Global Markets, Deutsche Bank Securities, J.P. Morgan Securities, and Wells Fargo Securities. Cisco intends to use the proceeds for general corporate purposes, which includes partially financing the proposed acquisition of Splunk Inc., as outlined in the Agreement and Plan of Merger dated September 20, 2023. The notes are unsecured and rank equally with Cisco's other senior unsecured debts, and are junior to liabilities of Cisco's subsidiaries. The Indenture includes covenants that limit Cisco's ability to consolidate, sell, transfer, lease, or convey its assets. The company also retains the option to redeem the notes under certain conditions. If the acquisition of Splunk Inc. does not occur by the Special Mandatory Redemption End Date, or if Cisco decides not to pursue the acquisition, the company is required to redeem all notes at a specified price.

This announcement is a separate document:

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