Broadcom Announces Exchange Offer for Senior Notes
January 09 2018 - 9:00AM
Broadcom Limited (NASDAQ:AVGO) (“Broadcom” or the “Company”)
announced today that two of its subsidiaries, Broadcom Corporation
and Broadcom Cayman Finance Limited (together, the “Co-Issuers”),
have commenced an exchange offer for any and all outstanding
unregistered 2.375% Senior Notes due 2020, 3.000% Senior Notes due
2022, 3.625% Senior Notes due 2024 and 3.875% Senior Notes due 2027
(collectively, the “January Notes”) and 2.200% Senior Notes due
2021, 2.650% Senior Notes due 2023, 3.125% Senior Notes due 2025
and 3.500% Senior Notes due 2028 (collectively, the “October
Notes”). The January Notes and the October Notes were originally
issued on January 19, 2017 and October 17, 2017, respectively, in
private placements exempt from the registration requirements of the
Securities Act of 1933, as amended, in aggregate principal amounts
of $13.55 billion and $4.0 billion, respectively. Holders of these
notes may exchange them for an equal principal amount of new issues
of 2.375% Senior Notes due 2020, 3.000% Senior Notes due 2022,
3.625% Senior Notes due 2024, 3.875% Senior Notes due 2027, 2.200%
Senior Notes due 2021, 2.650% Senior Notes due 2023, 3.125% Senior
Notes due 2025 and 3.500% Senior Notes due 2028, respectively,
pursuant to an effective registration statement on Form S-4 filed
with the Securities and Exchange Commission. Terms of the new notes
are substantially identical to those of the original notes, except
that the transfer restrictions and registration rights relating to
the original notes do not apply to the new notes.
The exchange offer will expire at 11:59 p.m., New York City
time, on February 7, 2018, unless extended. Tenders of the original
notes must be made before the exchange offer expires and may be
withdrawn at any time before the exchange offer expires.
Documents describing the terms of the exchange offer, including
the prospectus and transmittal materials for making tenders, can be
obtained from the exchange agent, Wilmington Trust, National
Association, Rodney Square North, 1100 North Market Street,
Wilmington, Delaware 19890-1626, Attention: Exchange, facsimile:
(302) 636-4139, email: DTC2@WilmingtonTrust.com.
This news release is for informational purposes only, and is not
an offer to buy or the solicitation of an offer to sell any
security. The exchange offer is being made only pursuant to the
exchange offer documents, including the prospectus and letter of
transmittal that are being distributed to the holders of the
original notes and have been filed with the Securities and Exchange
Commission.
Forward-Looking Statements
This release contains certain forward-looking statements within
the meaning of Section 21E of the United States Securities Exchange
Act of 1934, as amended, and Section 27A of the United States
Securities Act of 1933, as amended. Forward-looking statements
generally can be identified by the use of forward-looking
terminology, such as “believe,” “expect,” “may,” “will,” “intend,”
“estimate,” “continue,” or similar expressions or the negative of
those terms or expressions. Such statements involve risks and
uncertainties, which could cause actual results to vary materially
from those expressed in or indicated by the forward-looking
statements. For further information regarding these risks and
uncertainties, please refer to the heading “Risk Factors” in the
registration statement on Form S-4 related to this exchange offer
and in Part I, Item 1A of Broadcom Limited’s and Broadcom Cayman
L.P.’s Annual Report on Form 10-K for the fiscal year ended October
29, 2017. The Company cautions you not to place undue reliance on
forward-looking statements, which reflect an analysis only and
speak only as of the date hereof. The Company disclaims any
obligation to update these forward-looking statements.
About Broadcom
Broadcom Limited is a leading designer, developer and global
supplier of a broad range of digital and analog semiconductor
connectivity solutions. Broadcom Limited’s extensive product
portfolio serves four primary end markets: wired infrastructure,
wireless communications, enterprise storage and industrial &
other. Applications for our products in these end markets include
enterprise and data center networking, home connectivity, set-top
boxes, broadband access, telecommunication equipment, mobile
handsets and base stations, data center servers and storage
systems, factory automation, power generation and alternative
energy systems, and electronic displays.
Contacts
Ashish Saran Broadcom Limited Investor Relations 408-433-8000
investor.relations@broadcom.com
Broadcom (NASDAQ:AVGO)
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