Skyworks Solutions, Inc. announced the issuance of $2.0 billion in aggregate principal amount of senior unsecured notes across three tranches. The company intends to use the net proceeds, along with existing cash, to finance the approximately $3.00 billion cash consideration for its previously announced acquisition of Qorvo, Inc.
Key Details
- Offering Details: The offering consists of $800 million of 5.000% Senior Notes due 2028, $600 million of 5.750% Senior Notes due 2032, and $600 million of 6.250% Senior Notes due 2036.
- Use of Proceeds: The primary use of proceeds is to fund the cash portion of the acquisition of Qorvo, Inc. If the acquisition is not completed, proceeds from the 2032 notes will be used for general corporate purposes.
- Special Redemption Clause: The 2028 and 2036 notes are subject to a special mandatory redemption at 101% of the principal amount if the Qorvo acquisition is not consummated by November 3, 2027, or if the merger agreement is terminated. The 2032 notes are not subject to this provision.