Simpson Thacher represented the initial purchasers, led by BofA Merrill Lynch and Barclays, in connection with the 144A/Reg S offering by Broadcom Corporation and Broadcom Cayman Finance Limited of $13.55 billion aggregate principal amount of senior unsecured notes over four tranches. The notes are guaranteed by Broadcom Limited (Nasdaq: AVGO) and certain of its subsidiaries. Broadcom used the net proceeds of the notes offering to repay indebtedness outstanding under its credit facilities and to pay related fees and expenses. Simpson Thacher also represented Bank of America, N.A. as administrative agent with respect to the concurrent amendment of Broadcom’s credit facilities.
Broadcom Limited is a leading designer, developer and global supplier of a broad range of analog and digital semiconductor connectivity solutions. Broadcom’s extensive product portfolio serves four primary end markets: wired infrastructure, wireless communications, enterprise storage and industrial & other. Applications for its products in these end markets include: data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems, and displays. Broadcom is co-headquartered in Singapore and San Jose, California.
The Simpson Thacher team included Risë Norman, Dan Webb, Brian E. Rosenzweig, Tony Rim, Ki Hoon Kim and Jennifer Rosen (Capital Markets); Alexandra Kaplan, Ben Baucom, Nelli Zaltsman, Christine Marshall and Ashley Yoon (Credit); Michael Badain (Tax); Marcela Robledo and Marissa Lambert (IP); Alina Grinman (ECEB); Jennie Getsin (Blue Sky); and Tim Mulvihill (Environmental). Jackie Kerin also provided valuable assistance.