Juniper Networks to redeem $400 million 4¾% convertibles

New York, Oct. 27 - Juniper Networks, Inc. said it will redeem $400 million principal amount of its 4¾% convertible subordinated notes due 2007 on Nov. 26.

The Sunnyvale, Calif. network equipment company originally issued $1.15 billion principal amount of the notes in March 2000. After the redemption there will be $142.076 million outstanding.

Juniper will pay $1,036.508 per $1,000 principal amount for the convertibles, made up of a redemption price of $1,027.14 per $1,000 plus accrued interest of $9.368.

Up to 5.00 p.m. ET on Nov. 25, holders can convert the notes into 6.0992 shares of stock per $1,000 principal amount, a conversion price of $163.9559. Juniper stock closed at $16.49 on Friday.

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