15 August 2018

Qorvo prices offering of additional $130m of 5.50% senior notes due 2026

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Qorvo Inc of Greensboro, NC, USA (which provides core technologies and RF solutions for mobile, infrastructure and defense applications) has priced its offering of an additional $130m of its 5.50% senior notes (due 2026) at 101% of par value plus interest deemed to have accrued from 16 July to the closing date. The offering was upsized from $100m (announced on 14 July). This brings the total outstanding notes to $630m, after Qorvo completed an offering of the initial $500m of the notes on 16 July.

Qorvo expects to close the sale of the additional notes (issued to qualified institutional buyers and certain non-US persons) on or about 28 August, subject to the satisfaction of customary closing conditions.

Qorvo expects to use the net proceeds of the offering of additional notes, together with cash on hand or borrowings under its credit facility, to finance a tender offer to purchase its 7.00% senior notes due 2025.

The additional notes will be senior unsecured obligations of Qorvo and will be initially guaranteed, jointly and severally, by each of Qorvo’s existing and future direct and indirect wholly owned US subsidiaries that guarantee Qorvo’s obligations under its existing credit facility.

The additional notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the USA absent registration or an applicable exemption from such registration requirements.

See related items:

Qorvo proposes offering additional $100m of 5.50% senior notes due 2026

Qorvo completes offering of $500m senior notes

Qorvo announces pricing of $500m senior notes offering, upsized from $300m

Qorvo announces increase of cash tender offer for senior notes due 2025 from $150m to $300m

Tags: Qorvo

Visit: www.qorvo.com