Broadcom raises $1.95B to refinance debt
Broadcom (NASDAQ:AVGO) has priced its previously announced offering of $750M of 4.00% senior unsecured notes due 2029 and $1.2B of 4.15% senior unsecured notes due 2032.
Offering is expected to settle on April 14, 2022.
Net proceeds will be used to redeem in full its 4.700% senior notes due 2025 and 4.250% senior notes due 2026, including accrued and unpaid interest.
The company commences offers to exchange Existing Notes for consideration consisting of a combination of up to $2.5 principal amount of the company's new notes due 2037 and a cash payment.
The Exchange offers are expected to expire on April 27, 2022.