Cisco announced the pricing of two series of senior unsecured notes for an aggregate principal amount of $4 billion. The offering is expected to close on February 17, 2009. Of these notes, $2 billion will mature in February 2019 and will bear interest at an annual rate of 4.95%, and $2 billion will mature in February 2039 and will bear interest at an annual rate of 5.90%. The 4.95% notes due February 2019 and the 5.90% notes due February 2039 were priced to yield 4.979% and 5.916%, respectively.
Cisco intends to use the net proceeds from this offering for general corporate purposes and to repay $500 million in aggregate principal amount of its floating rate notes due 2009.
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