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26 September 2019

Qorvo prices offering of $350m in senior notes, upsized from $300m

Qorvo Inc of Greensboro, NC, USA (which provides core technologies and RF solutions for mobile, infrastructure and defense applications) has priced its offering of $350m worth of senior notes (maturing in 2029). The offering has been upsized from the $300m initially announced.

The notes will pay interest semi-annually at a rate of 4.375%. They will mature on 15 October 2029, unless earlier redeemed in accordance with their terms. Qorvo expects to close the sale of the notes on or about 30 September, subject to satisfaction of customary closing conditions.

The notes will be issued to qualified institutional buyers (pursuant to Rule 144A under the US 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.

The 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 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 announces proposed $300m offering of senior notes

Qorvo closes offering of additional $270m of notes

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

Qorvo completes offering of $500m senior notes

Tags: Qorvo

Visit: www.qorvo.com

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