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Market Overview

Fortinet Raises $1B Debt Via Senior Notes Offering

  • Fortinet Inc (NASDAQ: FTNTpriced $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.

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