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Cisco Prices $4 Billion of Senior Secured Notes

Cisco Systems (NASDAQ: CSCO) released the following financial announcement:

The firm “priced three series of senior unsecured notes for an aggregate principal amount of $4 billion. The offering is expected to close on March 16, 2011.

“Of these notes, $2 billion will mature in March 2014 and will bear interest at an annual rate of 1.625 percent, $1.25 billion will mature in March 2014 and will bear interest at a floating rate equal to three-month LIBOR plus 25 basis points, and $750 million will mature in March 2017 and will bear interest at an annual rate of 3.150 percent.

“Cisco intends to use the net proceeds from this offering for general corporate purposes.”

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