{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-263172","form_type":"8-K","ticker":"CIEN","cik":"0000936395","company_name":"CIENA CORP","filed_at":"2023-10-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.462148+00:00","generated_at":"2026-06-09T13:01:12.518320+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Ciena refinances ~$1.17B in term loans, replaces $300M ABL with new revolver","bullets":["New senior secured term loan of $1.17B due October 2030 bears interest at SOFR+2.00% or base+1.00%.","Proceeds plus cash on hand used to repay existing $668.7M 2025 and $497.5M 2030 term loans in full.","New $300M revolver replaces existing ABL facility, with option to increase to $450M and matures October 2028.","ABL Credit Agreement terminated; no loans outstanding at termination; letters of credit of ~$65.1M transferred.","Financial covenants include max Total Secured Net Leverage Ratio of 3.50x before investment grade event."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-263172","json":"https://secwatch.observer/filing/0001193125-23-263172.json","markdown":"https://secwatch.observer/filing/0001193125-23-263172.md","text":"https://secwatch.observer/filing/0001193125-23-263172.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/936395/000119312523263172/0001193125-23-263172-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/936395/000119312523263172/d912624d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T13:01:12.518320+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"357b9c93fa738e0cdb1fc31991a87687a13468ee","claim":"CIENA CORP incurred term loan of $1.17 billion with Bank of America, N.A., as administrative agent at SOFR (subject to a floor of 0.00%) plus an applicable margin of 2.00% maturing October 24, 2030.","evidence_excerpt":"entered into an Incremental Amendment Agreement to the Credit Agreement with the lenders party thereto and Bank of America (the “Amendment”) pursuant to which Ciena incurred a new single tranche of senior secured term loans in an aggregate principal amount of $1.17 billion (the “New Term Loan”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/936395/000119312523263172/0001193125-23-263172-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$1.17 billion"},{"label":"Counterparty","value":"Bank of America, N.A., as administrative agent"},{"label":"Rate","value":"SOFR (subject to a floor of 0.00%) plus an applicable margin of 2.00%"},{"label":"Maturity","value":"October 24, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"7de7f6796aa35d5809982a852b8f05dca6417286","claim":"CIENA CORP incurred revolving credit of $300 million with Bank of America at SOFR (subject to a floor of 0.00%) plus a credit spread adjustment of 0.10% plus maturing October 24, 2028.","evidence_excerpt":"On the Closing Date, pursuant to the Amendment, Ciena also incurred a new senior secured revolving credit facility of $300 million (the “Revolving Credit Facility”), which replaces the Existing ABL Facility.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/936395/000119312523263172/0001193125-23-263172-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$300 million"},{"label":"Counterparty","value":"Bank of America"},{"label":"Rate","value":"SOFR (subject to a floor of 0.00%) plus a credit spread adjustment of 0.10% plus"},{"label":"Maturity","value":"October 24, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"6b34c117a46d751a57594b8e003800026d942dd5","claim":"CIENA CORP entered into Incremental Amendment Agreement with Bank of America, N.A., as administrative agent valued at $1.17 billion (effective 2023-10-24).","evidence_excerpt":"On October 24, 2023 (the “Closing Date”), Ciena, as borrower, and Ciena Communications, Inc., Ciena Government Solutions, Inc., Ciena Communications International, LLC and Blue Planet Software, Inc., as guarantors, entered into an Incremental Amendment Agreement to the Credit Agreement with the lenders party thereto and Bank of America (the “Amendment”) pursuant to which Ciena incurred a new single tranche of senior secured term loans in an aggregate principal amount of $1.17 billion (the “New Term Loan”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/936395/000119312523263172/0001193125-23-263172-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A., as administrative agent"},{"label":"Value","value":"$1.17 billion"},{"label":"Effective","value":"2023-10-24"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}