Qorvo to start roadshow Monday for $1 billion two-part notes offering

By Paul A. Harris

Portland, Ore., Nov. 6 – Qorvo Inc. plans to start a roadshow on Monday for a $1 billion two-part offering of senior notes (expected ratings Ba1/BB+), according to a market source.

The deal is coming in tranches of eight-year notes with three years of call protection and 10-year notes with five years of call protection.

The roadshow is set to wrap up on Thursday.

BofA Merrill Lynch, Morgan Stanley & Co. LLC, TD Securities and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A and Regulation S with registration rights notes offering.

Deutsche Bank Securities Inc., BNP Paribas Securities Corp., BB&T and MUFG are the co-managers.

The Greensboro, N.C.-based technology company plans to use the proceeds for general corporate purposes, including share repurchases and the repayment of debt under its revolver.

Qorvo provides core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications.

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