Broadcom intends to issue senior notes to repurchase debt

By Devika Patel

Knoxville, Tenn., May 5 – Broadcom Inc. reported in a press release and an 8-K filing with the Securities and Exchange Commission that it intends to conduct a Rule 144A and Regulation S sale of senior notes (BBB-).

Proceeds will be used to repay, retire or repurchase the company’s debt, including borrowings under its November 2019 credit agreement.

The company also reported that it plans exchange offers for some of its notes maturing between 2021 and 2024 for one or more new series of senior notes maturing between 2026 and 2028.

Broadcom is a San Jose, Calif.-based semiconductor manufacturer and infrastructure software developer.

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