Ciena closes $2.9B convertible notes offering, repays term loan and buys back shares

Filed June 10, 2026 · Period ending June 8, 2026 · ~1 min read

Key Changes

• high

  Issued $2.875B in zero-coupon convertible notes due 2031 at conversion price of $746.66/share, guaranteed by domestic subsidiaries. Net proceeds of $2.72B replace secured term loan with unsecured convertible debt.

  Item 1.01 verify on EDGAR →
• high

  Used $1.14B of proceeds to fully repay existing term loan and $140M to repurchase 0.3M shares at $466.67/share. Remainder for general corporate purposes including supply chain investments.

  Item 1.01 verify on EDGAR →
• high

  Entered hedge transactions to reduce dilution and sold warrants covering up to 7.7M shares, effectively raising conversion price to $1,000/share. Warrants create dilution risk above $1,000/share.

  Item 1.01, 3.02 verify on EDGAR →