|By Marketwired .||
|December 5, 2012 06:36 PM EST||
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 transactions.
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 10179
Attention: Investment Grade Syndicate Desk
Tel: (212) 834-4533
Fax: (212) 834-6081
Morgan Stanley & Co. LLC
180 Varick Street
New York, New York 10014
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 proceeds 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 events.
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