CISCO SYSTEMS, INC. (CSCO): debt financing — Cisco issues $13.5B in senior notes to partially fund Splunk acquisition

CISCO SYSTEMS, INC.

Issued $13.5B aggregate principal across 7 tranches: 2026-2064 maturities, coupons 4.800%-5.350%.
Proceeds for general corporate purposes including partial financing of pending Splunk Inc. acquisition.
Special mandatory redemption at 101% of principal plus interest if Splunk deal not closed or abandoned.
Notes are unsecured, rank equally with other senior unsecured debt; underwritten by BofA, Barclays, Citi, Deutsche Bank, J.P. Morgan, Wells Fargo.
Interest payable semiannually; optional redemption at make-whole premium or at par in months before maturity.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CISCO SYSTEMS, INC. incurred senior notes of $1,000,000,000 principal amount of its 4.900% Senior Notes due 2026, $2,000,000,000 principal amount of its 4.800% Senio with The Bank of New York Mellon Trust Company, N.A. at 4.900% per annum, 4.800% per annum, 4.850% per annum, 4.950% per annum, 5.050% p maturing February 26, 2026, February 26, 2027, February 26, 2029, February 26, 2031, February 26, 2034, February 26, 2054 and February 26, 2064.

Instrument: senior notes
Principal: $1,000,000,000 principal amount of its 4.900% Senior Notes due 2026, $2,000,000,000 principal amount of its 4.800% Senio
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 4.900% per annum, 4.800% per annum, 4.850% per annum, 4.950% per annum, 5.050% p
Maturity: February 26, 2026, February 26, 2027, February 26, 2029, February 26, 2031, February 26, 2034, February 26, 2054 and February 26, 2064
Event: incurrence

Exact text from the filing

On February 26, 2024, Cisco Systems, Inc. (the “Company”) issued $1,000,000,000 principal amount of its 4.900% Senior Notes due 2026 (the “2026 Notes”), $2,000,000,000 principal amount of its 4.800% Senior Notes due 2027 (the “2027 Notes”), $2,500,000,000 principal amount of its 4.850% Senior Notes due 2029 (the “2029 Notes”), $2,500,000,000 principal amount of its 4.950% Senior Notes due 2031 (the “2031 Notes”), $2,500,000,000 principal amount of its 5.050% Senior Notes due 2034 (the “2034 Notes”), $2,000,000,000 principal amount of its 5.300% Senior Notes due 2054 (the “2054 Notes”) and $1,000,000,000 principal amount of its 5.350% Senior Notes due 2064 (the “2064 Notes”

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CISCO SYSTEMS, INC. entered into First Supplemental Indenture with The Bank of New York Mellon Trust Company, N.A. (effective 2024-02-26).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Effective: 2024-02-26

Exact text from the filing

as supplemented by the First Supplemental Indenture, dated as of February 26, 2024 (the “First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), between the Company and the Trustee.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CISCO SYSTEMS, INC. entered into Base Indenture with The Bank of New York Mellon Trust Company, N.A. valued at $13,500,000,000 (effective 2024-02-26).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Value: $13,500,000,000
Effective: 2024-02-26

Exact text from the filing

On February 26, 2024, Cisco Systems, Inc. (the “Company”) issued $1,000,000,000 principal amount of its 4.900% Senior Notes due 2026

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CISCO SYSTEMS, INC. entered into Underwriting Agreement with BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC (effective 2024-02-21).

Action: entry
Agreement: underwriting
Counterparty: BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
Effective: 2024-02-21

Exact text from the filing

The Notes were sold pursuant to an underwriting agreement, dated February 21, 2024 (the “Underwriting Agreement”), among the Company and BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC on behalf of the several underwriters named therein.

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299 debt financings filed in the last 30 days. Browse all debt financings →

CISCO SYSTEMS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-046231

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