Freshfields Advises Ciena Corporation on Its Private Offering of $2.875bn Aggregate Principal Amount of 0.00% Convertible Senior Notes Due 2031

Freshfields advised Ciena Corporation on its private offering of $2.875 billion aggregate principal amount of 0.00% convertible senior notes due 2031 (the “Notes”), which includes $375 million aggregate principal amount of Notes issued in connection with the initial purchasers’ full exercise of their option. We also advised on the derivative overlay and concurrent share repurchase. Ciena Corp., with a market cap of over $65 billion as of June 2026, is a networking systems and software company that enables the world's communications networks by providing intelligent, high-capacity optical and routing infrastructure.

The Freshfields team was led by Counsel Jeff Gould and included Partner Michael Levitt, Counsel Tracy Zhang, and Associates Sierra Acosta, Hayley Tartell and Kelli Nguyen. Partner Brian Rance, Senior Associate Francesca Loreto and Associate Skyler Splinter advised on finance matters. Tax advice was provided by Partner Jay Cosel and associate Shahab Pournaghshband.