other material
confidence high
sentiment neutral
materiality 0.15
Cisco replaces Bank of America with Citibank as paying agent for $10B commercial paper program
CISCO SYSTEMS, INC.
- Entered new IPA with Citibank on Sept 29, 2022, replacing BofA as issuing and paying agent.
- Terminated prior 2011 IPA with Bank of America on same date.
- Program size remains $10B; all dealers (J.P. Morgan, Goldman Sachs, BofA Securities) amended agreements.
- No change in program terms, size, or use of proceeds – purely administrative agent switch.