Gen Digital Inc. announced the pricing of $950 million aggregate principal amount of its 6.25% senior notes due 2033. This private offering is exempt from the registration requirements of the Securities Act of 1933.
The net proceeds from this offering, combined with cash on hand, are intended to repurchase all of Gen Digital's outstanding 5.00% Senior Notes due 2025, which total $1.1 billion, and to cover accrued and unpaid interest on those notes.
The offering was expected to close on February 13, 2025, subject to customary closing conditions. This move extends the maturity profile of Gen Digital's debt and optimizes its capital structure.
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