Brocade Communications Systems Inc: Key Developments
Brocade Communications Systems, Inc. Powers ULCC`s New Data Centre
February 2, 2010 |
| Brocade Communications Systems, Inc. announced that the University of London Computer Centre (ULCC) has upgraded its network infrastructure as part of a move to its new £3 million data centre facility in central London. |
Brocade Communications Systems, Inc. Announces Contract
January 26, 2010 |
| Brocade Communications Systems, Inc. announced that Provincia di Bergamo has installed its high-performance IP solutions as part a carrier-class solution with MPLS (Multi Protocol Label Switching) services. Delivering 10 Gbps performance, and offering a path for 100 Gbps when needed, Provincia di Bergamo has deployed 94 Brocade NetIron MLX routers as part of a solution to deliver Internet connectivity to residents. |
CORRECTION OFFICIAL - Brocade Communications Systems, Inc. Announces Closing of $600 Million Senior Secured Notes Offering
January 21, 2010 |
| CORRECTED TO READ in the body 'Brocade intends to use up to $150 million of the net proceeds of the offering' instead of 'Brocade intends to use the balance of the net proceeds' Brocade Communications Systems, Inc. announced the closing of its offering of $300 million in aggregate principal amount of 6.625% senior secured notes that will mature in 2018 at an issue price of 99.239% of the principal amount of the notes, and $300 million in aggregate principal amount of 6.875% senior secured notes that will mature in 2020 at an issue price of 99.114% of the principal amount of the notes. The notes were issued in a private placement to qualified institutional buyers in the United States defined in Rule 144A under the Securities Act of 1933, as amended, and outside the United States pursuant to Regulation S under the Securities Act. Brocade intends to use up to $150 million of the net proceeds of the offering, together with cash on hand, to retire when due in February 2010, approximately $173 million in outstanding 2.25% subordinated convertible notes originally issued by McDATA Corporation, a wholly owned subsidiary of Brocade. Brocade intends to use up to $150 million of the net proceeds of the offering, together with cash on hand, to retire when due in February 2010, approximately $173 million in outstanding 2.25% subordinated convertible notes originally issued by McDATA Corporation, a wholly owned subsidiary of Brocade. Brocade used approximately $435 million of the net proce |
Brocade Communications Systems, Inc. Announces Pricing Of $600 Million Senior Secured Notes Offering
January 14, 2010 |
| Brocade Communications Systems, Inc. announced the pricing of its offering of $300 million in aggregate principal amount of 6.625% senior secured notes that will mature in 2018 at an issue price of 99.239% of the principal amount of the notes, and $300 million in aggregate principal amount of 6.875% senior secured notes that will mature in 2020 at an issue price of 99.114% of the principal amount of the notes. The notes will be secured, senior obligations of Brocade . The sale of the notes is expected to close on or about January 20, 2010. Brocade intends to use up to $150 million of the net proceeds of the offering, together with cash on hand, to retire when due in February 2010 approximately $173 million in outstanding 2.25% subordinated convertible notes originally issued by McDATA Corporation, a wholly owned subsidiary of Brocade. Brocade also intends to use the balance of the net proceeds of the offering to pay down a substantial portion of the outstanding term loan under Brocade's senior secured credit facility, which has a minimum interest rate of 7.0%. |
Brocade Communications Systems, Inc. Reaffirms FY 2010 Guidance-Conference Call
December 2, 2009 |
| Brocade Communications Systems, Inc. announced that for fiscal 2010, it expects revenue to be between $2.25-$2.45 billion and earnings per share (EPS) to be between $0.56-$0.61. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $2.26 billion and EPS of $0.59 for the same period. |
Brocade Communications Systems, Inc. Denies Looking For A Buyer-Reuters
November 24, 2009 |
| Reuters reported that Brocade Communications Systems, Inc.'s top executive denied the Company had looked for a buyer and said the Company was seeking to grow through partnerships. Brocade, however, said it was seeking to grow through partnerships. |
Brocade Communications Systems, Inc. Announces Brocade NetIron CER 2000 Series Compact Multi-Protocol Label Switching (MPLS) Router
November 17, 2009 |
| Brocade Communications Systems, Inc. announced the Brocade NetIron CER 2000 Series compact multi-protocol label switching (MPLS) router, featuring hardware based routing capacity, in a compact 1U form factor: 24 or 48 Gigabit Ethernet (GbE) ports with two 10 GbE uplinks. The NetIron CER 2000 enables service providers to more broadly, rapidly, and cost-effectively deploy high-margin business virtual private network (VPN) and IP voice, video, and data services while helping to reduce their cost per megabit. |
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