debt
confidence high
sentiment neutral
materiality 0.60
Broadcom exchanges ~$1.68B in existing notes for new 4.926% Senior Notes due 2037
Broadcom Inc.
- Exchanged $49.7M CA 4.700% 2027, $479.6M 5.000% 2030, $302.6M 4.750% 2029, $847.0M 4.110% 2028, and $823.3M 4.150% 2030 for new notes.
- New 4.926% Senior Notes due 2037 issued under indenture with Wilmington Trust; interest payable semi-annually in May and November.
- Remaining outstanding amounts of exchanged series range from $215.4M (CA 4.700% 2027) to $1.86B (Broadcom 4.150% 2030).
- Registration rights agreement with Barclays, BBVA, BNP Paribas, J.P. Morgan; failure to file by April 2027 triggers additional interest up to 1.000%.
- New notes are senior unsecured, rank equally with existing senior debt, and redeemable at make-whole prior to Feb 15, 2037.