By Devika Patel and Wendy Van Sickle
Knoxville, Tenn., Oct. 10 – Broadcom Ltd. subsidiaries Broadcom Corp. and Broadcom Cayman Finance Ltd. priced $4 billion of notes in four tranches in Rule 144A and Regulation S sale of senior notes (Baa2), according to a press release.
Broadcom priced $750 million 2.2% senior notes due 2021.
It priced $1 billion of 2.65% senior notes due 2023.
The company priced $1 billion of 3.125% senior notes due 2025.
Finally, it priced $1.25 billion of 3.5% senior notes due 2028.
The notes will be guaranteed by Broadcom Ltd.
Closing is expected on Oct. 17.
Proceeds will be used with cash on hand to finance the company’s planned acquisition of Brocade Communications Systems, Inc., or, if the acquisition is not completed, for general corporate purposes.
Broadcom is an Irvine, Calif., maker of chips for broadcasting.
| Co-issuers: | Broadcom Corp. and Broadcom Cayman Finance Ltd.
|
| Guarantor: | Broadcom Ltd.
|
| Issue: | Senior notes
|
| Amount: | $4 billion
|
| Pricing date: | Oct. 10
|
| Settlement date: | Oct. 17
|
|
|
| 2021 notes
|
| Amount: | $750 million
|
| Coupon: | 2.2%
|
| Maturity: | 2021
|
|
|
| 2023 notes
|
| Amount: | $1 billion
|
| Coupon: | 2.65%
|
| Maturity: | 2023
|
|
|
| 2025 notes
|
| Amount: | $1 billion
|
| Coupon: | 3.125%
|
| Maturity: | 2025
|
|
|
| 2028 notes
|
| Amount: | $1.25 billion
|
| Coupon: | 3.15%
|
| Maturity: | 2028
|
|
|
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