SUNNYVALE: Fortinet Inc. has priced its underwritten, registered public offering of $1.0 billion aggregate principal amount of senior notes, consisting of $500 million aggregate principal amount 1.0% notes due 2026 and $500 million aggregate principal amount of 2.2% notes due 2031, a news release said.
The offering is expected to close on March 5, 2021, subject to the satisfaction of customary closing conditions.
Fortinet intends to use net proceeds from this offering for general corporate purposes, which may include additions to working capital, financing of capital expenditures, and we may also use the net proceeds of this offering for repayment or redemption of outstanding indebtedness, share repurchases, and future acquisitions and strategic investment opportunities.
BofA Securities, J.P. Morgan, Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint book-running managers of the offering.
Fortinet secures the largest enterprise, service provider, and government organizations around the world.
Fortinet empowers its customers with complete visibility and control across the expanding attack surface and the power to take on ever-increasing performance requirements today and into the future.
The Fortinet Security Fabric platform can address the most critical security challenges and protect data across the entire digital infrastructure, whether in networked, application, multi-cloud or edge environments. www.fortinet.com