29 May 2020
Qorvo prices offering of additional $300m of senior notes, upsized from $250m
Qorvo Inc of Greensboro, NC, USA (which provides core technologies and RF solutions for mobile, infrastructure and defense applications) has priced its offering of an additional $300m worth of its 4.375% senior notes due 2029 at 102.250% of par value plus interest deemed to have accrued from 15 April to the closing date. This brings the total outstanding principal amount of the notes to $850m.
The offering was upsized from the $250m initially announced. Qorvo expects to close the sale of the additional notes on or about 11 June, subject to the satisfaction of customary closing conditions.
The additional notes will be 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 for general corporate purposes.
The additional 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 additional 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.
Qorvo announced proposed offering of additional $250m of senior notes
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