16 November 2015

Qorvo announces pricing of $1bn senior notes offering

Qorvo Inc of Greensboro, NC and Hillsboro, OR, USA, which provides core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications, has priced its offering of $1bn of senior notes maturing in 2023 and 2025. The $450m of 2023 notes and $550m of 2025 notes (maturing on 1 December 2023 and 1 December 2025) will pay interest semi-annually at a rate of 6.75% and 7.00%, respectively. Qorvo expects to close the sale of the notes on or about 19 November, subject to the satisfaction of customary closing conditions.

The notes will be issued to qualified institutional buyers (pursuant to Rule 144A under the Securities Act of 1933, as amended) and to certain non-US persons (in accordance with Regulation S under the Securities Act).
Qorvo expects to use the net proceeds of the offering for general corporate purposes, including share repurchases and repayment of any amounts outstanding under its revolving credit facility.

The notes will be senior unsecured obligations of Qorvo and will be initially guaranteed (jointly and severally) by each of the firm's existing and future direct and indirect wholly owned US subsidiaries that guarantee Qorvo's obligations under its revolving credit facility.

The notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the USA without registration or an applicable exemption from such registration requirements.

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Qorvo announces proposed $1bn senior notes offering

Tags: Qorvo RF

Visit: www.qorvo.com