Fortinet Raises $1B Debt Via Senior Notes Offering

Fortinet Inc (NASDAQ: FTNT) priced $500 million 1% notes due 2026 and $500 million 2.2% notes due 2031 in a debt offering.
The offering is expected to close on March 5, 2021.
Fortinet intends to utilize the offering proceeds for general corporate purposes, including additions to working capital, financing of capital expenditures, repayment debt, share buybacks, and acquisitions.
BofA Securities, J.P. Morgan, Morgan Stanley, and Goldman Sachs are the joint book-running managers of the offering.
FTNT stock has gained 43.79% in the last three months.
Price action: FTNT shares closed higher by 0.64% at $169.85 on Wednesday.