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Qorvo Announces Closing Of $1 Billion Senior Notes Offering

The following excerpt is from the company's SEC filing.


November 19, 2015


(Nasdaq: QRVO), a leading provider of core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications, today announced the completion of its offering of $1 billion in aggregate principal amount of its senior notes maturing in 2023 and 2025 (the Notes). The $450 million of 2023 Notes and $550 million of 2025 Notes will pay interest semi-annually at a rate of 6.75% and 7.00%, respectively. The 2023 and 2025 Notes will mature on December 1, 2023, and December 1, 2025, respectively, unless earlier red eemed in accordance with their terms.

The Notes were issued to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to certain non-U.S. 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 Qorvos existing and future direct and indirect wholly-owned U.S. subsidiaries that guarantee Qorvos 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 United States absent registration or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Qorvo

Qorvo (NASDAQ:QRVO) is a leading provider of core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications. Qorvo was formed following the merger of RFMD and TriQuint, and has more than 7,000 global employees dedicated to delivering solutions for everything that connects the world. Qorvo has the industrys broadest portfolio of products and core technologies; world-class ISO9001-, ISO 14001- and ISO/TS...