Emulex sells USD125 million convertible senior notes in private offering
Emulex Corporation today announced its intention to offer as much as USD125 million aggregate principal amount of Convertible Senior Notes due 2018. The company statement released to PRNewswire said that the private offering is open to all qualified institutional investors purusant to Rule 144A of the Securities Act.
Emulex said that it could use a portion of the offering's net proceeds for general corporate purposes, including buybacks of shares of its common stocks.
American multinational investment banking firm Goldman, Sachs & Co. will be acting as the sole initial purchaser for resale of the offering to qualified institutional buyers.
The Costa Mesa, California-based corporation provides network convergence solutions to nearly all Fortune 1000 companies. Its I/O connectivity offerings have also been designed into server and storage solutions of leading original equiment manufacturers including Cisco, Dell, Fujitsu, Hitachi, HP, Huawei, IBM, NetApp and Oracle.
Aside from North America, the leader in network connectivity also has offices and research facilities in the Asian and European regions.