17 July 2018

Qorvo completes offering of $500m senior notes

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Qorvo Inc of Greensboro, NC, USA (which provides core technologies and RF solutions for mobile, infrastructure and defense applications) has completed its offering of $500m of its senior notes maturing in 2026. The notes will pay interest semi-annually at a rate of 5.50%, and will mature on 15 July 2026 (unless earlier redeemed in accordance with their terms).

The notes were issued to qualified institutional buyers 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 to purchase, in connection with its recently announced tender offers, up to $300m of its 7.00% senior notes due 2025 (increased from the $150m announced on 10 July), to pay related fees and expenses of the offering and the tender offers, and for general corporate purposes.

The notes are senior unsecured obligations of Qorvo and are 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 notes have not been 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 announces pricing of $500m senior notes offering, upsized from $300m

Qorvo proposes $300m senior notes offering

Tags: Qorvo

Visit: www.qorvo.com