12 June 2020
Qorvo completes offering of additional $300m of 2029 senior notes
Qorvo Inc of Greensboro, NC, USA (which provides core technologies and RF solutions for mobile, infrastructure and defense applications) has completed its offering of an additional $300m worth of its senior notes (maturing in 2029). The offering had been upsized from the $250m initially announced on 28 May. Paying interest semi-annually at a rate of 4.375% per annum, the additional notes will mature on 15 October 2029, unless earlier redeemed in accordance with their terms.
The additional notes were issued to qualified institutional buyers (pursuant to Rule 144A under the 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 of additional notes for general corporate purposes.
The additional 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 additional 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.