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Infinera Announces Proposed $100 Million Offering

The convertible senior notes will be due in 2018. Infinera expects to use the net proceeds of the offering for general corporate purposes, including working capital and potential strategic projects
InP PIC provider Infinera Corporation is intending to offer, subject to market conditions and other factors, $100 million aggregate principal amount of convertible senior notes in a private placement to qualified institutional buyers.

Infinera also expects to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $15 million aggregate principal amount of the notes to cover over-allotments.

The notes will be unsecured, unsubordinated obligations of Infinera, and interest will be payable semi-annually. Prior to December 1st, 2017, the notes will be convertible at the option of the noteholders only upon the occurrence of specified events; thereafter until maturity the notes will be convertible at the option of the noteholders at any time.

Upon conversion, the notes will be settled in cash, shares of Infinera's common stock or any combination thereof at Infinera's option. Final terms of the notes, including the interest rate, initial conversion rate and other terms, will be determined by negotiations between Infinera and the initial purchasers of the notes.

The notes will be offered to qualified institutional buyers pursuant to Rule 144A under the act.

Neither the notes nor the shares of Infinera's common stock issuable upon conversion of the notes have been registered under the Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.



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