Bloomberg Law
Tech & Telecom Law
LinkedIn

HPE Gets Loan Commitments for $14 Billion Juniper Networks Deal

Jan. 10, 2024, 5:20 PM UTC
Josyana Joshua
Josyana Joshua
Bloomberg Editorial

Hewlett Packard Enterprise Co. has secured financing commitments for its $14 billion purchase of Juniper Networks Inc.

Spring, Texas-based HPE is planning to fund the acquisition with $14 billion of term loans, according to a statement out Tuesday. The committed financing is being provided by Citigroup Global Markets Inc., JPMorgan Chase Bank N.A. and Mizuho Bank Ltd., reads the release.

The financing will eventually be partially replaced “with a combination of new debt, mandatory convertible preferred securities, and cash on the balance sheet,” according to the announcement.

Hewlett Packard Enterprise Co. agreed to buy Juniper Networks Inc. for $14 billion in a move that will expand its presence in networking but raised skepticism from Wall Street. HPE CEO Antonio Neri says Juniper brings “complementary capabilities we didn’t have across the networking portfolio.” He speaks on “Bloomberg Technology.” The deal is expected to close late this year or in early 2025. Source: Bloomberg

The deal marks one of the largest committed debt ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.