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19 November 2015

Qorvo announces closing of $1bn senior notes offering

Qorvo Inc of Greensboro, NC and Hillsboro, OR, USA, which provides core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications, has announced the completion of its offering of $1bn of senior notes maturing in 2023 and 2025.

The $450m of 2023 notes and $550m of 2025 notes (maturing on 1 December 2023 and 1 December 2025) will pay interest semi-annually at a rate of 6.75% and 7.00%, respectively.

The notes were issued to qualified institutional buyers (pursuant to Rule 144A under the Securities Act of 1933, as amended) and to certain non-US persons (in accordance with Regulation S under the Securities Act).

Qorvo expects to use the net proceeds of the offering for general corporate purposes, including share repurchases and repayment of any amounts outstanding under its revolving credit facility.

The notes are senior unsecured obligations of Qorvo and are initially guaranteed (jointly and severally) by each of the firm's existing and future direct and indirect wholly owned US subsidiaries that guarantee Qorvo's obligations under its revolving credit facility.

The notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the USA without registration or an applicable exemption from such registration requirements.

See related items:

Qorvo announces pricing of $1bn senior notes offering

Qorvo announces proposed $1bn senior notes offering

Tags: Qorvo RF

Visit: www.qorvo.com

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