NetApp entered into an underwriting agreement on March 12, 2025 to issue and sell $625,000,000 million of 5.500% Senior Notes due 2032 and $625,000,000 million of 5.700% Senior Notes due 2035 in a public offering.

1. 01

   NetApp entered into an underwriting agreement on March 12, 2025 to issue and sell $625,000,000 million of 5.500% Senior Notes due 2032 and $625,000,000 million of 5.700% Senior Notes due 2035 in a public offering.

2. 02

   The company said interest on the Notes is payable semi-annually in arrears on March 17 and September 17 of each year, with the first payment due on September 17, 2025. The 2032 Notes mature on March 17, 2032, and the 2035 Notes mature on March 17, 2035.

3. 03

   The company said it plans to use part of the net proceeds from the offering to repay its 1.875% Senior Notes due 2025 at maturity and the remainder for general corporate purposes.

4. 04

   The company said the Indenture, including the Fifth Supplemental Indenture entered into on March 17, 2025, contains negative covenants that restrict liens securing debt, sale and lease-back transactions, and mergers or sales of all or substantially all assets. The company said that if a payment default, covenant breach or bankruptcy-related event occurs, it constitutes an event of default, and the entire principal amount of the Notes could become immediately due and payable.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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