Gen Digital Inc. Proposes Significant Senior Notes Offering to Strengthen Financial Strategy

Gen Digital Inc. Planned Senior Notes Offering

In a bold move aimed at strengthening its financial position, Gen Digital Inc. (NASDAQ: GEN), a prominent player in the digital freedom space, has announced its intention to sell a substantial aggregate of $1.1 billion in senior notes, maturing in 2033. The proposed offering highlights the company's commitment to enhancing its capital structure and fortifying its resources for future growth.

Objectives of the Offering

The primary goal of this offering is to repurchase the company's outstanding 5.00% Senior Notes due in 2025, along with addressing accrued interest associated with those notes. The balance of the proceeds will be allocated for various corporate purposes, demonstrating Gen's proactive approach to optimize its financial flexibility. By leveraging this new capital, Gen aims to streamline its debt obligations and reinforce its balance sheet, ultimately positioning itself for sustainable growth in the fast-evolving tech landscape.

Regulatory Compliance and Offering Structure

This private offering is designed to comply with exemptions set forth under the Securities Act of 1933. It is primarily aimed at qualified institutional buyers within the United States, as well as non-U.S. investors outside of the United States, in accordance with Regulation S. The notes will not be registered under the Securities Act and, consequently, cannot be sold within the U.S. without applicable exemptions.

Legal Disclaimer: This press release does not constitute an offer to sell or a solicitation for the purchase of any securities, nor does it serve as a means of soliciting offers in jurisdictions where such actions would violate local laws.

About Gen Digital Inc.

Gen Digital Inc. embodies a strong vision of fostering Digital Freedom through its suite of trusted cybersecurity brands. The company’s family of brands, which includes Norton, Avast, LifeLock, Avira, AVG, ReputationDefender, and CCleaner, serves nearly 500 million users across more than 150 countries. Gen is committed to ensuring consumers can navigate the digital landscape safely and confidently.

Their products are specifically designed to address the needs of the first digital generations, providing essential services in cybersecurity, online privacy, and identity protection. This offering not only marks a strategic financial maneuver but also aligns with Gen's long-term mission to empower users in an increasingly digital world.

Future Outlook and Forward-Looking Statements

While this announcement positions Gen Digital for a robust financial standing, it is accompanied by cautionary statements regarding forward-looking projections. The anticipated outcomes, growth trajectories, and potential impacts of external factors such as market dynamics and geopolitical occurrences reflect Gen's strategic planning amidst uncertainty.

Analysts and investors will be keenly observing how Gen Digital Inc. maneuvers through this offering and utilizes its new capital to further its mission of Digital Freedom, amid a rapidly changing digital landscape. As the company continues to scale its operations and enhance its product offerings, this financial strategy could prove pivotal in navigating future challenges and capitalizing on emerging opportunities.

For more details on Gen Digital Inc. and its comprehensive suite of consumer brands, visit GenDigital.com.