Symantec Prices $1.1 Billion Senior Unsecured Note Offering
February 07 2017 - 4:35PM
Business Wire
Symantec Corporation (NASDAQ:SYMC) today announced the pricing
of its senior unsecured notes in an aggregate principal amount of
$1.1 billion (the “senior notes”), which reflects an increase of
$0.1 billion from the aggregate principal amount previously
announced. The senior notes will mature on April 15, 2025 and will
bear interest at a rate of 5.0% per annum. The senior notes will be
sold to persons reasonably believed to be qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended (the “Securities Act”), and to certain persons in offshore
transactions in reliance on Regulation S under the Securities Act.
The offering is expected to close on February 9, 2017, subject to
customary closing conditions and the closing of Symantec’s
acquisition of LifeLock.
Symantec intends to use the net proceeds of this offering, after
deducting underwriting discounts and offering expenses, together
with cash on hand, to finance the approximately $2.3 billion
aggregate purchase price of its proposed acquisition of
LifeLock.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities. Any offers of the
senior notes will be made only by means of a private offering
memorandum. The senior notes have not been, and will not be,
registered under the Securities Act or the securities laws of any
other jurisdiction and may not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements.
Forward-Looking Statements: This press release contains
forward-looking statements including, among other things,
statements relating to the timing of the proposed offering and
expected use of proceeds from the offering. These forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These statements
involve risks and uncertainties that could cause actual results to
differ materially, including, but not limited to, whether or not
Symantec will consummate the offering of senior notes, which is
subject to market conditions and the impact of general economic,
industry or political conditions in the United States or
internationally.
Symantec assumes no obligation to, and does not currently intend
to, update any such forward-looking statements after the date of
this release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170207006553/en/
MEDIA CONTACT:Symantec Corp.Kristen Batch,
650-527-5152Kristen_Batch@symantec.comorINVESTOR
CONTACT:Symantec Corp.Jonathan Doros,
650-527-5523Jonathan_Doros@symantec.com
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