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<TITLE>Form 8-K</TITLE>


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<B><FONT SIZE=5><P ALIGN="CENTER">UNITED STATES </P>


<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION </P>


</FONT><P ALIGN="CENTER">Washington, DC 20549 </P>


</B><P ALIGN="CENTER"></P>


<B><FONT SIZE=5><P ALIGN="CENTER">FORM 8-K </P>


</B></FONT><P ALIGN="CENTER"></P>


<P>&nbsp;</P>


<B><P ALIGN="CENTER">CURRENT REPORT </P>


<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the </P>


<P ALIGN="CENTER">Securities Exchange Act of 1934 </P>


</B><P>&nbsp;</P>


<B><FONT SIZE=2><P ALIGN="CENTER">Date of Report (Date of earliest event reported): March 11, 2005 </P>


</B></FONT><P ALIGN="CENTER"></P>


<B><FONT SIZE=6><P ALIGN="CENTER">REDBACK NETWORKS INC. </P>


</FONT><FONT SIZE=1><P ALIGN="CENTER">(Exact Name of Registrant as Specified in its Charter) </P>


</B></FONT><P ALIGN="CENTER"></P>


<P>&nbsp;</P>


<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=624>


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<B><FONT SIZE=2><P ALIGN="CENTER">Delaware</B></FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="34%" VALIGN="TOP">


<B><FONT SIZE=2><P ALIGN="CENTER">000-25853</B></FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="29%" VALIGN="TOP">


<B><FONT SIZE=2><P ALIGN="CENTER">77-0438443</B></FONT></TD>


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<B><FONT SIZE=1><P ALIGN="CENTER">(State or Other Jurisdiction<BR>


of Incorporation)</B></FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="34%" VALIGN="TOP">


<B><FONT SIZE=1><P ALIGN="CENTER">(Commission File Number)</B></FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="29%" VALIGN="TOP">


<B><FONT SIZE=1><P ALIGN="CENTER">(I.R.S. Employer</P>


<P ALIGN="CENTER">Identification Number)</B></FONT></TD>


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<B><FONT SIZE=2><P ALIGN="CENTER">300 Holger Way</P>


<P ALIGN="CENTER">San Jose, CA 95134 </P>


</FONT><FONT SIZE=1><P ALIGN="CENTER">(Address of Principal Executive Offices) (Zip Code)</P>


<P ALIGN="CENTER"> </P>


</FONT><FONT SIZE=2><P ALIGN="CENTER">(408) 750-5000 </P>


</FONT><FONT SIZE=1><P ALIGN="CENTER">(Registrant's telephone number, including area code) </P>


</B></FONT><P ALIGN="CENTER"></P>


<B><FONT SIZE=2><P ALIGN="CENTER">Not Applicable </P>


</FONT><FONT SIZE=1><P ALIGN="CENTER">(Former Name or Former Address, if Changed Since Last Report) </P>


</B></FONT><P ALIGN="CENTER"></P>


<FONT SIZE=2><P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see</I> General Instruction A.2. below): </P>


</FONT>


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<FONT SIZE=2><P>__</FONT></TD>


<TD WIDTH="96%" VALIGN="TOP">


<FONT SIZE=2><P>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD>


</TR>


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<FONT SIZE=2><P>__</FONT></TD>


<TD WIDTH="96%" VALIGN="TOP">


<FONT SIZE=2><P>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>


</TR>


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<FONT SIZE=2><P>__</FONT></TD>


<TD WIDTH="96%" VALIGN="TOP">


<FONT SIZE=2><P>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD>


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<FONT SIZE=2><P>__</FONT></TD>


<TD WIDTH="96%" VALIGN="TOP">


<FONT SIZE=2><P>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13d-4(c))</FONT></TD>


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<P>&nbsp;</P>





<P>&nbsp;</P>


<B><FONT SIZE=2><P>Section 1 -- Registrant's Business and Operations </P>


<P>&nbsp;</P>


<P>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement. </P>


</B><P>&nbsp;</P>


<P>On March 11, 2005, Silicon Valley Bank and the Company entered into a letter amendment to clarify and correct the intentions and understandings of the parties' original agreement effective as of March 10, 2004, with respect to certain terms and conditions relating to sublimits made available under the Amended and Restated Loan and Security Agreement between the parties. Filed herewith as an exhibit to this report is the letter amendment.   </P>





<B><P>Section 9 -- Financial Statements and Exhibits</P>





<P>Item 9.01.  Financial Statements and Exhibits</P>


</B>


<P> (c) Exhibits.</P>


</FONT><FONT SIZE=1><P>&nbsp;</P></FONT>


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<TR><TD WIDTH="13%" VALIGN="BOTTOM">&nbsp;</TD>


<TD WIDTH="1%" VALIGN="BOTTOM">&nbsp;</TD>


<TD WIDTH="87%" VALIGN="BOTTOM">&nbsp;</TD>


</TR>


<TR><TD WIDTH="13%" VALIGN="BOTTOM">


<B><FONT SIZE=1><P ALIGN="CENTER">Exhibit</P>


</B></FONT><P ALIGN="CENTER"></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;&nbsp;</FONT></TD>


<TD WIDTH="87%" VALIGN="BOTTOM">


<B><FONT SIZE=1><P>Description</B></FONT></TD>


</TR>


<TR><TD WIDTH="13%" VALIGN="TOP">


<FONT SIZE=2><P ALIGN="CENTER">10.1</FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;&nbsp;</FONT></TD>


<TD WIDTH="87%" VALIGN="BOTTOM">


<FONT SIZE=2><P>Letter Amendment dated March 11, 2005, to the Amended and Restated Loan and Security Agreement between Silicon Valley Bank and the Company.</FONT></TD>


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<FONT SIZE=2>


</FONT><FONT SIZE=1><P>&nbsp;</P>


</FONT>


<P>&nbsp;</P>


<FONT SIZE=2><P>&nbsp;</P>


<P>&nbsp;</P>


<P>&nbsp;</P>


</FONT><P>&nbsp;</P>


<FONT SIZE=2><P ALIGN="CENTER"></P>


<P ALIGN="CENTER">SIGNATURES </P>


</FONT><P>&nbsp;</P>


<FONT SIZE=2><P>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </P>


</FONT><P>&nbsp;</P>


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<TR><TD WIDTH="40%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="60%" VALIGN="BOTTOM" COLSPAN=3>


<FONT SIZE=2><P>R</FONT><FONT SIZE=1>EDBACK</FONT><FONT SIZE=2> N</FONT><FONT SIZE=1>ETWORKS</FONT><FONT SIZE=2> I</FONT><FONT SIZE=1>NC</FONT><FONT SIZE=2>.</FONT></TD>


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<TR><TD WIDTH="40%" VALIGN="MIDDLE" HEIGHT=16><P></P></TD>


<TD WIDTH="7%" VALIGN="MIDDLE" COLSPAN=2 HEIGHT=16><P></P></TD>


<TD WIDTH="54%" VALIGN="MIDDLE" COLSPAN=2 HEIGHT=16><P></P></TD>


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<TR><TD WIDTH="40%" VALIGN="TOP">


<FONT SIZE=2><P>DATE: March 17, 2005</FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="6%" VALIGN="TOP">


<FONT SIZE=2><P>By:</FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="53%" VALIGN="BOTTOM">


<U><FONT SIZE=2><P ALIGN="CENTER">/s/  Thomas L. Cronan III</U></FONT></TD>


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<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="6%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="1%" VALIGN="BOTTOM">


<FONT SIZE=1><P>&nbsp;</FONT></TD>


<TD WIDTH="53%" VALIGN="BOTTOM">


<B><FONT SIZE=1><P ALIGN="CENTER">Thomas L. Cronan III<BR>


Senior&nbsp;Vice&nbsp;President&nbsp;of&nbsp;Finance&nbsp;and<BR>


Administration, Chief Financial Officer</B></FONT></TD>


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Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 11, 2005
REDBACK NETWORKS INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware
000-25853
77-0438443
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(I.R.S. Employer
Identification Number)
300 Holger Way
San Jose, CA 95134
(Address of Principal Executive Offices) (Zip Code)
(408) 750-5000
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
__
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
__
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
__
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
__
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13d-4(c))
Section 1 -- Registrant's Business and Operations
Item 1.01.    Entry into a Material Definitive Agreement.
On March 11, 2005, Silicon Valley Bank and the Company entered into a letter amendment to clarify and correct the intentions and understandings of the parties' original agreement effective as of March 10, 2004, with respect to certain terms and conditions relating to sublimits made available under the Amended and Restated Loan and Security Agreement between the parties. Filed herewith as an exhibit to this report is the letter amendment.
Section 9 -- Financial Statements and Exhibits
Item 9.01.  Financial Statements and Exhibits
(c) Exhibits.
Exhibit
Description
10.1
Letter Amendment dated March 11, 2005, to the Amended and Restated Loan and Security Agreement between Silicon Valley Bank and the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
R
EDBACK
N
ETWORKS
I
NC
.
DATE: March 17, 2005
By:
/s/  Thomas L. Cronan III
Thomas L. Cronan III
Senior Vice President of Finance and
Administration, Chief Financial Officer