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19.05.2020 21:30
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Broadcom Inc. Announces Pricing Terms of its Private Exchange Offers of Certain Outstanding Notes for New Notes
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PR Newswire
SAN JOSE, Calif., May 19, 2020
SAN JOSE, Calif., May 19, 2020 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO) ("Broadcom" or the "Company") announced today the pricing terms of the Company's new notes due 2026 (the "New 2026 Notes") and new notes due 2028 (the "New 2028 Notes" and, together with the New 2026 Notes, the "New Notes") to be issued in connection with its offers to certain eligible holders (together, the "Exchange Offers") of the Company's or its subsidiaries' Pool 1 Existing Notes and Pool 2 Existing Notes listed in the tables below (collectively, the "Existing Notes") to exchange Pool 1 Existing Notes for consideration consisting of up to $2,200,000,000 aggregate principal amount of the New 2026 Notes and to exchange Pool 2 Existing Notes for consideration of up to $3,750,000,000 aggregate principal amount of the New 2028 Notes, the complete terms and conditions of which are set forth in an offering memorandum, dated May 5, 2020 (the "Offering Memorandum"). Capitalized terms not defined herein shall have the meanings ascribed to them in the Offering Memorandum.
The aggregate principal amount, fixed spread and interest rate of each series of New Notes expected to be issued by the Company is set forth in the table below:
| Title of Security | Aggregate Principal Amount Expected to be Issued |
Reference U.S. Treasury Security | Fixed Spread (bps) ARIVA.DE Börsen-GeflüsterWerbung Weiter aufwärts?
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| Interest Rate(1) | ||||||||||
| 3.459% Notes due 2026 | $1,694,847,000 | 0.375% U.S. Treasury Notes due August 30, 2025 | 310 | 3.459% | ||||||||||
| 4.110% Notes due 2028 | $2,221,096,000 | 1.500% U.S. Treasury Notes due February 15, 2030 | 340 | 4.110% | ||||||||||
| (1) The interest rate reflects the bid-side yield on the Reference UST Security plus the applicable fixed spread, calculated in accordance with the procedures set forth in the Offering Memorandum. The Reference UST Security with respect to the New 2026 Notes and the New 2028 Notes had a bid-side yield of 0.359% and 0.710%, respectively, as of the Pricing Time of the Exchange Offers. |
For each $1,000 principal amount of each series of Existing Notes validly tendered and not validly withdrawn as of the Early Participation Date and accepted for exchange by the Company, the following table sets forth the applicable yield and the Total Consideration (subject to rounding and cash in lieu of fractional amounts of New Notes) to be received by Eligible Holders, as priced below:
| CUSIP | Title of Security | Fixed Spread (bps) | Yield(1) | Total Consideration(2) |
| 11134LAJ8 (144A)U1108LAE9 (Reg S)11134LAK5 | 2.200% Senior Notes, due 1/15/2021, issued by Broadcom Corporation | 60 | 0.777% | $1,009.20* |
| 11135FAA9 (144A) U1109MAA4 (Reg S) | 3.125% Senior Notes, due 4/15/2021, issued by Broadcom Inc. | 80 | 0.977% | $1,019.19* |
| 11134LAC3 (144A) U1108LAB5 (Reg S) 11134LAD1 | 3.000% Senior Notes, due 1/15/2022, issued by Broadcom Corporation | 85 | 1.027% | $1,030.58* |
| 12673PAH8 | 3.600% Senior Notes, due 8/15/2022, issued by CA, Inc. | 140 | 1.577% | $1,042.59* |
| 11135FAC5 (144A) U1109MAC0 (Reg S) | 3.125% Senior Notes, due 10/15/2022 issued by Broadcom Inc. | 115 | 1.327% | $1,042.33* |
| 11134LAE9 (144A)U1108LAC3 (Reg S)11134LAF6 | 3.625% Senior Notes, due 1/15/2024, issued by Broadcom Corporation | 170 | 2.059% | $1,052.38** |
| 11135FAD3 (144A) U1109MAD8 (Reg S) | 3.625% Senior Notes, due 10/15/2024, issued by Broadcom Inc. | 175 | 2.109% | $1,062.23** |
| (1) The yield reflects the bid-side yield on the Reference UST Security plus the applicable fixed spread, calculated in accordance with the procedures set forth in the Offering Memorandum. The Reference UST Security with respect to the Pool 1 Existing Notes and the Pool 2 Existing Notes had a bid-side yield of 0.177% and 0.359%, respectively, as of the Pricing Time of the Exchange Offers. | |
| (2) The Total Consideration includes an Early Participation Payment of $50 (payable in applicable New Notes) for each $1,000 principal amount of each series of Existing Notes validly tendered at or prior to the Early Participation Date and accepted for exchange. | |
| * Payable in New 2026 Notes. | |
| ** Payable in New 2028 Notes. |
The table below identifies the aggregate principal amount of each series of Pool 1 Existing Notes validly tendered (and not validly withdrawn) in the Pool 1 Offers as of the Early Participation Date and the principal amount of each series of Pool 1 Existing Notes that the Company expects to accept for exchange on the Early Settlement Date:
Pool 1 Offers
| CUSIP | Title of Security (collectively, the "Pool 1 Existing Notes") | Principal Amount Outstanding | Acceptance | Principal Amount Tendered and Accepted(2) |
| 11134LAJ8 (144A)U1108LAE9 (Reg S)11134LAK5 | 2.200% Senior Notes, due 1/15/2021, issued by Broadcom Corporation | $398,870,000 | 1 | $117,133,000 |
| 11135FAA9 (144A) U1109MAA4 (Reg S) | 3.125% Senior Notes, due 4/15/2021, issued by Broadcom Inc. | $725,841,000 | 2 | $200,499,000 |
| 11134LAC3 (144A) U1108LAB5 (Reg S) 11134LAD1 | 3.000% Senior Notes, due 1/15/2022, issued by Broadcom Corporation | $1,138,974,000 | 3 | $297,061,000 |
| 12673PAH8 | 3.600% Senior Notes, due 8/15/2022, issued by CA, Inc. | $500,000,000 | 4 | $216,359,000 |
| 11135FAC5 (144A) U1109MAC0 (Reg S) | 3.125% Senior Notes, due 10/15/2022 issued by Broadcom Inc. Werbung Mehr Nachrichten zur Broadcom Aktie kostenlos abonnieren
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