Qualcomm pitches two tranches of notes to repay January debt

Chicago, Nov. 7 – Qualcomm Inc. plans to offer two tranches of senior notes, according to a 424B2 filing with the Securities and Exchange Commission.

Each note will come with the option for a make-whole call if the company decides to redeem the notes early. The notes will be callable at par a number of months before the maturity date of each note.

Barclays, BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunners.

U.S. Bank Trust Co., NA is the trustee.

Cravath, Swaine & Moore LLP has been hired as Qualcomm’s counsel. Davis Polk & Wardwell LLP is working for the bookrunners.

Proceeds will be used to repay at maturity the company’s $946 million of 2.6% notes due Jan. 30, 2023 and the $500 million of outstanding floating-rate notes due Jan. 30, 2023. If there is any excess, the company will use it for general corporate purposes.

Based in San Diego, Qualcomm creates semiconductors, software and services related to wireless technology.

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