Broadcom to repay some bank debt, exchange notes via new notes

By Rebecca Melvin

New York, May 5 – Broadcom Inc. said it intends to repay some amounts outstanding under its November 2019 credit agreement using proceeds of a new senior note offering, according to a press release.

The proceeds may also be used to repay, retire or repurchase other debt. In addition, the company plans to exchange notes with proceeds of the proposed Rule 144A and Regulation S notes.

In the exchange, notes that mature between 2021 and 2024 will be exchanged with new notes maturing between 2026 and 2028. The exchange offer expires June 2.

Broadcom is a San Jose, Calif.-based designer and developer of semiconductor and infrastructure software solutions.

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