Sunnyvale, Calif. - December 5, 2012 - NetApp, Inc.
(NASDAQ: NTAP) today announced the pricing of $750,000,000
in aggregate principal amount of its 2.00% senior notes due
2017 (the "2017 notes") and $250,000,000 in
aggregate principal amount of its 3.25% senior notes due
2022 (the "2022 notes").
The offering is expected to close, subject to customary
closing conditions, on December 12, 2012. The 2017 notes
were priced to yield 2.107% and the 2022 notes were priced
to yield 3.344%.
NetApp intends to use the net proceeds from this offering
for general corporate purposes, which may include repayment
of certain indebtedness, capital expenditures, possible
stock repurchases, working capital and potential
acquisitions and strategic transactions.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are
acting as joint book-running managers. Citigroup Global
Markets Inc., Goldman, Sachs & Co., Merrill Lynch, Pierce,
Fenner & Smith Incorporated and Wells Fargo Securities, LLC
are acting as co-managers.
This press release does not constitute an offer to sell or
the solicitation of an offer to buy any of the senior notes
or any other securities nor shall there be any sale of the
senior notes or any other securities in any state in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of
any such state. The offering of senior notes may be made
only by means of a preliminary prospectus supplement and
the accompanying prospectus, copies of which can be
J.P. Morgan Securities LLC
383 Madison Ave.
New York, New York 10179
Attention: Investment Grade Syndicate Desk
Tel: (212) 834-4533
Fax: (212) 834-6081
Morgan Stanley & Co. LLC
180 Varick Street
New York, New York 10014
Attention: Prospectus Department
Tel: (866) 718-1649
NetApp creates innovative storage and data management
solutions that deliver outstanding cost efficiency and
accelerate business breakthroughs. Discover our passion for
helping companies around the world go further, faster.
The statements in this release relating to the terms and
timing of the proposed offering and the expected use of
proceeds from the offering are forward-looking statements
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements
involve risks and uncertainties that could cause actual
results to differ materially, including, but not limited
to, whether or not NetApp will consummate the offering,
prevailing market conditions, the anticipated use of the
proceeds of the offering which could change as a result of
market conditions or for other reasons, interest rates and
corporate considerations and the impact of general
economic, industry or political conditions in the United
States or internationally.
Investors in NetApp's securities are cautioned not to
place undue reliance on its forward-looking statements,
which speak only as of the date such statements are made.
NetApp does not undertake any obligation to publicly update
any forward-looking statements to reflect events,
circumstances or new information after this December 5,
2012 press release, or to reflect the occurrence of