NetApp, Inc. Announces Redemption of 3.375% Senior Notes Due 2021
June 26, 2020 at 04:02 pm EDT
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On June 26, 2020, NetApp, Inc. issued a notice to redeem all of its 3.375% Senior Notes due 2021. The redemption of the Notes will be effected pursuant to the terms of the Indenture, dated as of December 12, 2012, between the Company and U.S. Bank National Association, as supplemented by the Second Supplemental Indenture dated June 5, 2014, that governs the Notes. The Notes will be redeemed on July 27, 2020 at a redemption price equal to 100% of the principal amount of the Notes; and the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted pursuant to the terms of the Indenture. As of the date hereof, there is $500.0 million aggregate principal amount of the Notes outstanding.
NetApp, Inc. specializes in the design, manufacturing and marketing of equipment for managing and storing network data. Net sales break down by family of products and services as follows:
- product sales (52%): file, cache and storage servers, data management, content distribution and information synthesis softwares;
- support services (37.1%): consulting, maintenance, technical assistance and training services;
- cloud services (6.3%): cloud storage and data management services;
- professional services (4.6%).
Net sales are distributed geographically as follows: Americas (54.8%), Europe/Middle East/Africa (31.3%) and Asia/Pacific (13.9%).