Cisco Rolle: showing guests the quality of large-screen networking
San Jose, California, USA (Bloomberg) – Cisco is selling $4 billion of debt, only the second sale of its bonds in 25 years, as part of measures to cut costs in the face of falling sales worldwide of networking equipment.
The world’s number one provider of Internet networking solutions, which has offices in Rolle, Vaud, announced Tuesday 10 February that it intends to use the money for “general corporate purposes” and to repay $500 million in floating rate notes due in 2009.
According to Bloomberg, “The company is working to eliminate at least $1 billion in expenses by the end of July. Sales may drop as much as 20 percent this quarter, and analysts don’t expect a rebound until 2010.”
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News story, GenevaLunch, 10 February 2009.
Filed under: Business, Uncategorized
Tags: Business and finance, California, Cisco, corporate bonds, cost cutting, networking solutions, Rolle, Swiss business, Swiss companies