28 May 2020
Qorvo announced proposed offering of additional $250m of senior notes
Qorvo Inc of Greensboro, NC, USA (which provides core technologies and RF solutions for mobile, infrastructure and defense applications) proposes to offer (subject to market conditions and other factors) an additional $250m worth of its 4.375% senior notes due 2029 to qualified institutional buyers (pursuant to Rule 144A under the Securities Act of 1933, as amended) and to certain non-US people (in accordance with Regulation S under the Securities Act).
Qorvo previously completed offerings of the notes worth $350m on 30 September and $200m on 20 December. Qorvo expects to use the net proceeds of the latest offering for general corporate purposes.
The additional notes will be senior unsecured obligations of Qorvo and will be initially guaranteed, jointly and severally, by each of Qorvo’s existing and future direct and indirect wholly owned US subsidiaries that guarantee Qorvo’s obligations under its existing credit facility.
The additional notes will not be registered under the US Securities Act or any state securities laws and may not be offered or sold in the USA absent registration or an applicable exemption from such registration requirements.