Monday, Ciena Corporation (CIEN) announced its plan to offer $2.0 billion aggregate principal amount of convertible senior notes due 2031 in a private offering.
Additionally, the company intends to grant the initial purchasers an option to buy up to an additional $300.0 million aggregate principal amount of the notes within 13 days beginning on, and including, the initial closing date of the Offering.
Ciena plans to use a portion of the proceeds to pay the net cost of the convertible note hedge transactions as well as repurchase up to $140 million of shares of the company's common stock.
Meanwhile, it intends to use approximately $1.14 billion of the remaining net proceeds to repay amounts outstanding under its term loan under its existing credit facility and pay related fees and expenses.
In the pre-market hours, CIEN is trading at $485.90, down 0.46 percent on the New York Stock Exchange.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.