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NetApp Prices $1,000,000,000 of Senior Notes
By: Marketwired .
Dec. 5, 2012 06:36 PM
SUNNYVALE, CA -- (Marketwire) -- 12/05/12 -- 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
Morgan Stanley & Co. LLC
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.
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