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Fenwick & West Represents Cisco in $8B Senior Unsecured Notes Offering

March 03, 2014

​Fenwick & West represented Cisco Systems, Inc. (NASDAQ: CSCO) in its offering of seven series of senior unsecured notes for an aggregate principal amount of $8 billion. Cisco intends to use the net proceeds from this offering for general corporate purposes, including (i) to repay $3.75 billion in aggregate principal amount of its outstanding senior unsecured notes and (ii) to return capital to shareholders pursuant to its previously-announced capital allocation strategy through the repurchase of shares of its common stock and the payment of cash dividends.

Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and Wells Fargo Securities, LLC acted as joint book-running managers.

The Fenwick transaction team included corporate attorneys Daniel Winnike, David Michaels, William Hughes, Philip Reuther, Ana Razmazma and Seth Popick.