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To: signist who wrote (19373)	3/3/2000 10:48:00 AM
From: signist	Read Replies (2) \| Respond to of 42804

OT..Juniper Networks sells $1.0 bln conv subord notes March 03, 2000 10:34 *What are they gonna do with ALL THAT MONEY?** NEW YORK, March 3 (Reuters) - Juniper Networks Inc. , a computer networking firm that makes high-speed Internet routers, said on Friday it sold $1.0 billion of 4.75 percent convertible subordinated notes due March 15, 2007. The notes are convertible into Juniper stock at about $327.92 a share, a 26 percent premium over the stock's Thursday closing price on Nasdaq of 260-1/4. The sale was increased in size twice, first from $500 million and then from $850 million, suggesting strong demand. Goldman Sachs & Co. led the sale. Juniper granted purchasers a 30-day option to purchase an additional $150 million of notes to cover over-allotments, if any. Mountain View, Calif.-based Juniper said it will use proceeds for working capital and general corporate purposes, and may use a portion of the proceeds to fund acquisitions and strategic investments in complementary businesses, products or technologies. The company staged its initial public offering of stock in June. It split its stock 3-for-1 on Jan. 17, and a day later reported a profit in its fiscal fourth quarter, its first profit since the IPO. The stock has roughly doubled since the company on Feb. 4 filed a registration statement for the sale with the U.S. Securities and Exchange Commission. At 10:30 a.m. in New York (1530 GMT), the stock traded at 274, up 13-3/4. Its 52-week low is 30, and its 52-week high is 295-3/4. (( Jonathan Stempel, U.S. Financial Markets Desk, (212) 859-1662 ))