Juniper Networks, Inc.’s $500 Million Notes Offering And Concurrent Cash Tender Offer

Davis Polk advised the joint book-running managers in connection with the notes offering and the the dealer managers in connection with the cash tender offer by Juniper Networks. Orrick Herrington & Sutcliffe LLP advised Juniper Networks.

Juniper Networks, Inc. offered $500 million aggregate principal amount of its 3.750% notes due 2029, and a concurrent cash tender offer to purchase any and all $600 million aggregate principal amount of its outstanding 3.300% notes due 2020 and 4.600% notes due 2021. The concurrent cash tender offer will be funded with the proceeds of the notes offering, together with available cash.

Headquartered in Sunnyvale, California, Juniper designs, develops and sells products and services to enable customers to build scalable, reliable, secure and cost-effective networks for their businesses, while achieving agility and improved operating efficiency through automation.

Barclays Capital Inc., BofA Securities, Inc. and Citigroup Global Markets acted as joint book-running managers and dealer managers in the transactions.

The Davis Polk corporate team included partner Alan F. Denenberg (Picture), counsel Jeffrey Gould and associate Kimberly Wang. The tax team included partner Rachel D. Kleinberg and associate Nicole A. Dressler. Associate Jay Frankel provided intellectual property and technology advice. The regulatory team included counsel Jeanine P. McGuinness and Jordan Leigh Smith.

The Orrick team included Brett Cooper, Steve Malvey, Lynne Hirata, JT Ho, Kelly Mink and Valerie Guillard.

Involved fees earner: Alan Denenberg – Davis Polk & Wardwell; Nicole Dressler – Davis Polk & Wardwell; Jay Frankel – Davis Polk & Wardwell; Jeffrey Gould – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; Jordan Leigh Smith – Davis Polk & Wardwell; Jeanine McGuinness – Davis Polk & Wardwell; Kimberly Wang – Davis Polk & Wardwell; Brett Cooper – Orrick; Lynne Hirata – Orrick; J. T. Ho – Orrick; Kelly Mink – Orrick;

Law Firms: Davis Polk & Wardwell; Orrick;

Clients: Bank of America Securities; Barclays Capital ; Citigroup Global Markets Ltd; Juniper Networks Inc.;

Author: Ambrogio Visconti