debt
confidence high
sentiment neutral
materiality 0.65
Broadcom issues $1.95B of new notes and launches $2.5B exchange for 4.926% notes due 2037
Broadcom Inc.
- Issued $750M 4.00% notes due 2029 and $1.2B 4.15% notes due 2032; proceeds to redeem 2025 and 2026 notes.
- Exchange offers for $4.24B of existing notes accepted $2.5B; new 4.926% notes due 2037 priced at 215 bps over 1.875% UST due 2032.
- Early settlement expected April 18, 2022; early participants received $50 per $1,000 in new notes.
- Registration rights agreement requires exchange offer registration by April 2027 or additional interest applies.