Simpson Thacher represented the initial purchasers, led by Morgan Stanley & Co. LLC, BNP Paribas Securities Corp., RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc., in connection with the Rule 144A/Regulation S offering by Broadcom Inc. (NASDAQ: AVGO) of $10 billion aggregate principal amount of Senior Notes over five tranches.
The Firm also represented Citigroup Global Markets Inc. and Wells Fargo Securities, LLC as dealer managers for Broadcom Inc.’s concurrent cash tender offers to purchase the 3.125% Senior Notes due 2021, issued by Broadcom Inc., 3% Senior Notes due 2022, issued by Broadcom Corporation, 3.6% Senior Notes due 2022, issued by CA, Inc., 3.125% Senior Notes due 2022, issued by Broadcom Inc., 2.65% Senior Notes due 2023, issued by Broadcom Corporation, 4.5% Senior Notes due 2023, issued by CA, Inc. and 2.25% Senior Notes due 2023, issued by Broadcom Inc. for up to $3.5 billion.
Broadcom Inc. plans to use the net proceeds of the Notes offering to repay certain of its existing indebtedness, including funding the purchase of Notes under the tender offers and to repay certain amounts outstanding under its credit agreements.
Broadcom Inc. is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions.
The Simpson Thacher team included Risë Norman, Eva Kang and Elise Quinones (Capital Markets); Jon Cantor and Edward Grais (Tax); Genevieve Dorment and Corina McIntyre (IP); Eric Wolf (ECEB); Jeanne Annarumma (ERISA); Jennie Getsin (Blue Sky); and Tim Mulvihill (Environmental).