Simpson Thacher represented the initial purchasers, led by BofA Merrill Lynch, J.P. Morgan, Citigroup and Wells Fargo Securities, in connection with the 144A/Reg S offering by Broadcom Corporation and Broadcom Cayman Finance Limited of $4 billion aggregate principal amount of senior unsecured notes over four tranches. The notes are guaranteed by Broadcom Limited (NASDAQ: AVGO) and its subsidiary, Broadcom Cayman L.P. Broadcom plans to use the proceeds, plus cash on hand, to finance the pending acquisition of Brocade Communications Systems, Inc., or, if such acquisition is not completed, for general corporate purposes, which could include future acquisitions.
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, Brian E. Rosenzweig, Tony Rim, Clint Eastman and Beth DiSciullo (Capital Markets); Jon Cantor and Morgan Otway (Tax); Linda Nyberg and Marissa Lambert (IP); Alina Grinman (ECEB); Jennie Getsin (Blue Sky); and Tim Mulvihill (Environmental).