secwatch.observer — SEC 8-K summary
======================================

Issuer:     CIENA CORP (CIEN)
CIK:        0000936395
Form:       8-K
Filed at:   2026-06-11T20:21:49+00:00
Accession:  0001193125-26-267607
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ciena closes $2.875B zero-coupon convertible notes offering; repays $1.14B term loan
--------------------------------------------------------------------------------

- Aggregate principal $2.875B (incl. $375M over-allotment), 0.00% coupon, due Sept 2031.
- Initial conversion price ~$746.66/share (60% premium over $466.67 June 8 close).
- Net proceeds ~$2.72B; $1.14B to repay term loan, $140M to repurchase 0.3M shares.
- Entered convertible note hedge and warrant transactions; effective conversion price after hedges $1,000/share.
- Credit agreement amended: revolving facility maturity extended to Oct 2030, interest rate margins adjusted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/936395/000119312526267607/0001193125-26-267607-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/936395/000119312526267607/d118604d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-267607

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer