Cisco Systems $7 billion notes issue

Overview:

• Networking equipment producer Cisco Systems has issued $7 billion in notes.
• The issue is made up of $1 billion floating rate notes due February 2018; $1.25 billion 1.400% notes due February 2018; $1 billion 1.600% notes due February 2019; $2.5 billion 2.200% notes due February 2021; $500 million 2.600% notes due February 2023; and $750 million 2.950% notes due February 2026.
• The bookrunners were Barclays Capital, JPMorgan Securities, Merrill Lynch Pierce Fenner & Smith, Wells Fargo Securities, BNP Paribas Securities, and HSBC Securities.
• Cisco is expected to use the proceeds for general corporate purposes.

Kurt Stumpo - Journalist