Ciena launches $2B convertible notes offering to refinance term loan, extend credit line to 2030

Filed June 8, 2026 · Period ending June 8, 2026 · ~1 min read

Key Changes

• high

  Ciena is offering $2 billion in convertible senior notes due 2031 to institutional buyers, with initial purchasers holding a $300 million overallotment option. The notes will be guaranteed by domestic subsidiaries.

  Item 8.01 verify on EDGAR →
• high

  Approximately $1.14 billion of proceeds will repay the existing secured term loan, effectively refinancing secured debt with unsecured convertible notes. Up to $140 million will fund concurrent stock buybacks.

  Item 8.01 verify on EDGAR →
• medium

  The $300 million revolving credit facility maturity extends from October 2028 to October 2030, with updated SOFR-based pricing (1.25%-2.00% margin) tied to leverage ratios.

  Item 8.01 verify on EDGAR →