secwatch.observer — SEC 8-K summary
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Issuer:     Broadcom Inc. (AVGO)
CIK:        0001730168
Form:       8-K
Filed at:   2023-08-16T23:59:59+00:00
Accession:  0001140361-23-040084
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Broadcom secures $28.4B term loan facilities to fund VMware acquisition
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- Three unsecured term loan facilities: Term A-2 ($10.7B, 2-yr), A-3 ($10.7B, 3-yr), A-5 ($7B, 5-yr).
- Interest at Base Rate or Term SOFR plus margin based on Broadcom's credit ratings (Pricing Level 1-5).
- Financial covenant requires Consolidated Interest Coverage Ratio ≥ 2.00:1.00 measured quarterly after funding.
- Broadcom terminated the prior $32B senior unsecured bridge facility committed for the acquisition.
- Up to $2B increase allowed within 15 business days after the funding date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1730168/000114036123040084/0001140361-23-040084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1730168/000114036123040084/brhc20057578_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-040084

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