Summary by Moomoo AI
Broadcom Inc. (Nasdaq: AVGO), a leading global technology company, has announced the pricing of a multi-tranche offering of senior notes on July 8, 2024. The offering includes $1.25 billion of 5.050% senior notes due in 2027, $2.25 billion of 5.050% senior notes due in 2029, and $1.5 billion of 5.150% senior notes due in 2031, with a total aggregate principal amount of $5 billion. The notes were priced close to par, with slight discounts. Broadcom intends to use the net proceeds, estimated at approximately $4.97 billion after underwriting discounts, to prepay a portion of its term A-2 loans and for general corporate purposes. The offering is set to close on July 12, 2024. The notes have been rated by major credit rating agencies, including Moody's (Baa3 Positive), Fitch (BBB- Stable), and S&P (BBB Stable). The joint book-running managers for the offering include BofA Securities, BNP Paribas Securities, HSBC Securities (USA), and several others. This offering is part of Broadcom's broader capital management strategy and follows the company's filing of a registration statement and prospectus supplement with the SEC.