* Ciena commences exchange offer for its 2018 convertible notes to add cash settlement conversion options

* Ciena Corp - Exchange offer for its currently outstanding 3.75% convertible senior notes due 2018

* Ciena Corp - Exchange offer will expire at 12:00 midnight, New York city time, at end of day on Friday, July 28, 2017

* Ciena - Believes will gain extra flexibility to better manage long-term capital structure, reduce dilutive impact of convertible notes upon stockholders

* Ciena Corp - Offering to exchange its old notes for a new series of 3.75% convertible senior notes due 2018 Source text for Eikon: Further company coverage: