Ciena Corporation closed a $2.875 billion private offering of 0.00% Convertible Senior Notes due 2031, generating net proceeds of approximately $2.72 billion. The company used $1.14 billion to repay its senior secured term loan and $140 million to repurchase 0.3 million shares of common stock. Remaining proceeds will be used for general corporate purposes and supply chain capacity investments. Ciena Corporation is a technology company that provides networking and optical communications equipment and services.

Ciena Corporation announced its intention to offer $2.0 billion in convertible senior notes due 2031, with an option for initial purchasers to purchase an additional $300.0 million. The company plans to use the proceeds to repay its existing term loan, repurchase up to $140 million of common stock, and for general corporate purposes.