Broadcom (AVGO) Prices Senior Unsecured Notes Offering
Zacks Investment Research | Mar 31, 2019 10:15PM ET
Broadcom (NASDAQ:AVGO) announces pricing of senior notes worth $2,000 million,$1,500 million, $2,000 million, $2,500 million and $3,000 million. The principal amount of the notes is scheduled to mature by 2021, 2022, 2024, 2026 and 2029, respectively. Moreover, these notes will carry an interest rate of 3.125%, 3.125%, 3.625%, 4.250% and 4.750%, respectively.
The offering of the notes will be concluded on Apr 5, 2019, upon fulfillment of customary closing conditions. The offering reflects the company’s intention to repay outstanding amount under its revolving credit facility.
The notes will be privately offered to qualified institutional buyers under Rule 144A, which is exempted from registration requirements under the United States Securities Act of 1933. We believe these notes will provide financial flexibility to the company and fuel long-term growth.
The company reported first-quarter fiscal 2019 non-GAAP earnings of $5.55 per share, beating the Zacks Consensus Estimate of $5.19. The figure also improved 8.4% from the year-ago quarter.
Non-GAAP revenues from continuing operations were $5.789 billion, up 8.7% from the year-ago quarter and 6.3% sequentially. The figure missed the Zacks Consensus Estimate of $5.816.
Stock Performance & Cash Position
Shares of Broadcom have returned approximately 32.1% year over year, outperforming the Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.