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Infinera to Raise $100M Debt

May 23, 2013 |
SUNNYVALE, Calif. -- Infinera Corporation (NASDAQ: INFN) today announced its intention to offer, subject to market conditions and other factors, $100 million aggregate principal amount of convertible senior notes due 2018 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”). Infinera also expects to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $15 million aggregate principal amount of the notes to cover overallotments.

The notes will be unsecured, unsubordinated obligations of Infinera, and interest will be payable semi-annually. Prior to December 1, 2017, the notes will be convertible at the option of the noteholders only upon the occurrence of specified events; thereafter until maturity the notes will be convertible at the option of the noteholders at any time. Upon conversion, the notes will be settled in cash, shares of Infinera’s common stock or any combination thereof at Infinera’s option. Final terms of the notes, including the interest rate, initial conversion rate and other terms, will be determined by negotiations between Infinera and the initial purchasers of the notes.

Infinera Corp.



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