The company’s offer follows a strict acceptance priority, beginning with its 4.926% senior notes due 2037 and extending to the 4.900% notes due 2032. Investors are being offered total consideration amounts per $1,000 of principal, with the highest payout set for the 5.050% notes due 2030 at $1,021.24. Broadcom reserves the right to increase the $2.5 billion aggregate purchase cap, though it is under no obligation to do so.
Broadcom Sets Pricing Terms for $2.5 Billion Debt Buyback
Broadcom Inc. has finalized the pricing for its cash tender offer to repurchase up to $2.5 billion in outstanding senior notes. The buyback, which targets six series of debt securities ranging from 2030 to 2038 maturities, reflects current market yields and fixed spreads established as of mid-day June 17.
Market participants have until 5:00 p.m. New York City time today to tender their holdings, unless the company chooses to extend the window. Barclays Capital and Citigroup Global Markets are serving as dealer managers for the transaction, while D.F. King & Co. acts as the tender agent. The initial settlement is slated for June 18, with a secondary window for guaranteed deliveries remaining open until June 22.
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