JDS Uniphase Corp (NASDAQ:JDSU) Declares Pricing Of Senior Convertible Notes


Dallas, Texas 08/19/2013 (Financialstrend) – JDS Uniphase Corp (NASDAQ:JDSU) recently declared that it has priced $575 million aggregate principal sum of its 0.625 per cent Senior Convertible Debentures due 2033. JDSU has offered the initial buyers a thirty day option to purchase up to a surplus $75 million combined principal amount of the notes.

The notes are bound to represent senior unsecured obligations of JDSU and pay interest semi annually in debt on 15th February and 15th August each year at a rate of 0.625 per cent on an annual basis.

The notes will mature on August 15, 2033 unless earlier redeemed, repurchased or converted. The notes will be converted at the option of the holders only under some specific circumstances. JDS Uniphase will terminate its existing $250 million revolving credit facility that at present has no outstanding amounts.

JDS Uniphase Corp has the right to redeem the notes effective from August 20, 2018.

JDS Uniphase Corp has estimated that the net proceeds from this offering shall approximately sum up to $563 million or $636 million in case the initial purchasers exercise their option to buy additional notes.

Forward Looking Statements

The press release also contains the forward looking statements lying within the explanations of Sec 27-A of the Securities Act of 1933 and Sec 21E of the SEA of 1934.

These statements may involve risks and uncertainties that could cause the actual results to differ substantially from the projected ones. Such statements include –

  1. The ability to complete the offering
  2. The use of proceeds described above
  3. The intent to terminate JDSU’s existing credit facility

JDS Uniphase Corp Witnesses Downfall In Shares

On Thursday, the shares of JDS Uniphase Corp (NASDAQ:JDSU) went about crossing below their 200 day moving average of $13.55. The shares hit a low of 13.43 per share.