Convertible Notes Payable

6 Months Ended

Apr. 30, 2012

The following table sets forth, in thousands, the carrying value and the estimated fair value of Ciena’s outstanding convertible notes:



	April 30, 2012
Description	Carrying Value		Fair Value
0.25% Convertible Senior Notes due May 1, 2013	$	216,210	$	214,859
4.0% Convertible Senior Notes due March 15, 2015 ⁽¹⁾	375,983		410,391
0.875% Convertible Senior Notes due June 15, 2017	500,000		424,063
3.75% Convertible Senior Notes due October 15, 2018	350,000		380,406
	$	1,442,193	$	1,429,719

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(1)	Includes unamortized bond premium related to embedded redemption feature

The fair value reported above is based on the quoted market price for the notes on the date above.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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