NetApp Prices $1,000,000,000 of Senior Notes
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
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
383 Madison Ave.
New York, New York
Attention: Investment Grade Syndicate Desk
Fax: (212) 834-6081
Morgan Stanley & Co. LLC
180 Varick Street
New York, New York
Attention: Prospectus Department
Tel: (866) 718-1649
NetApp creates innovative storage and data management
solutions that deliver outstanding cost efficiency and accelerate
business breakthroughs. Discover our passion for helping companies
around the world go further, faster.
The statements in this release relating to
the terms and timing of the proposed offering and the expected use of
s from the offering are forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements involve risks and
uncertainties that could cause actual results to differ materially,
including, but not limited to, whether or not NetApp will consummate
the offering, prevailing market conditions, the anticipated use of
the proceeds of the offering which could change as a result of market
conditions or for other reasons, interest rates and corporate
considerations and the impact of general economic, industry or
political conditions in the United States or internationally.
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
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