15 September 2020
Qorvo proposes $700m offering of senior notes due 2031
Qorvo Inc of Greensboro, NC, USA (which provides core technologies and RF solutions for mobile, infrastructure and defense applications) proposes to offer (subject to market conditions and other factors) $700m worth of senior notes due 2031 to people reasonably believed to be qualified institutional buyers (pursuant to Rule 144A under the Securities Act of 1933, as amended) and to certain non-US people (in accordance with Regulation S under the Securities Act).
Qorvo expects to use the net proceeds of the offering, together with cash on hand and borrowings under its credit facility, to redeem all of its outstanding 5.50% senior notes due 2026.
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 credit facility.
The notes will not be registered under the US 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.