Cisco Systems Inc. raised gross proceeds of $1.50 billion from an offering of 2.450% senior unsecured notes due June 15, 2020.

The company plans to use the proceeds for general corporate purposes or working capital, investment in securities, redemption or repayment of debt securities, acquisitions or investments, and repurchase of securities.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the lead underwriters.

Barclays Capital Inc., BB&T Capital Markets Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mischler Financial Group Inc., RBC Capital Markets LLC and UBS Securities LLC also served as underwriters for the offering.