Broadcom subsidiaries to price notes for Brocade acquisition

By Devika Patel

Knoxville, Tenn., Oct. 10 – Broadcom Ltd. announced that its subsidiaries Broadcom Corp. and Broadcom Cayman Finance Ltd. intend to conduct a Rule 144A and Regulation S sale of senior notes (Baa2), according to an 8-K filed with the Securities and Exchange Commission.

The notes will be guaranteed by Broadcom Ltd.

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.

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