Marvell Technology offers two series of fixed-rate senior notes

Chicago, Sept. 11 – Marvell Technology, Inc. plans to sell two new senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

Prior to a number of months before the maturity date, the notes will be callable with a make-whole premium. There will be a par call option for the final few months.

Should there be a change of control, the notes will be putable at 101.

J.P. Morgan Securities LLC, BofA Securities, Inc. and Wells Fargo Securities, LLC are the joint bookrunners.

U.S. Bank Trust Co., NA will be the trustee.

Weil, Gotshal & Manges LLP is counsel for the issuer. Davis Polk & Wardwell LLP is advising the underwriters.

Proceeds will be used to repay debt, including amounts outstanding under the company’s term loans due 2024 and a revolver. Any remaining funds will be used for working capital, to pay dividends, to pay capital expenditures or to repurchase common shares or for acquisitions.

Marvell is a Wilmington, Del.-based supplier of data infrastructure and semiconductor solutions.

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