Juniper Plans $350 Mln Senior Notes Offering

(RTTNews) - Juniper Networks, Inc. (JNPR) said Thursday that it plans to offer $350 million in aggregate principal amount of senior notes due 2024.

The interest rate and other terms of the notes are to be determined by negotiations between Juniper and the underwriters.

The company said it plans to use the net proceeds from the offering for general corporate purposes, which may include share repurchases, working capital, capital expenditures, other corporate expenses and acquisitions of products, technologies or businesses; however, the company does not currently have any agreements with respect to any such material acquisitions.

In addition, Juniper plans to use $1.2 billion of its cash on hand to repurchase shares of its common stock under an accelerated share repurchase program to be initiated pursuant to Juniper's capital allocation plan announced on February 20.