GREENSBORO, N.C., Aug. 14, 2018 (GLOBE NEWSWIRE) -- Qorvo® (Nasdaq: QRVO), a leading provider of innovative RF solutions that connect the world, today announced the pricing of its offering of an additional $130 million principal amount of its 5.50% senior notes due 2026 (the “Notes”), at 101.000% of par value plus interest deemed to have accrued from July 16, 2018 to the closing date, bringing the total outstanding principal amount of the Notes to $630 million. The offering was upsized from a previously announced amount of $100 million. Qorvo expects to close the sale of the additional Notes on or about August 28, 2018, subject to the satisfaction of customary closing conditions.
The additional Notes will be issued to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. Qorvo expects to use the net proceeds of the offering of additional Notes, together with cash on hand or borrowings under its credit facility, to finance its recently announced tender offer in respect of its 7.00% senior notes due 2025. The additional Notes will be senior unsecured obligations of Qorvo and will be initially guaranteed, jointly and severally, by each of Qorvo’s existing and future direct and indirect wholly-owned U.S. subsidiaries that guarantee Qorvo’s obligations under its existing credit facility.
About Qorvo
Qorvo (Nasdaq: QRVO) makes a better world possible by providing innovative RF solutions at the center of connectivity. We combine product and technology leadership, systems-level expertise and global manufacturing scale to quickly solve our customers’ most complex technical challenges. Qorvo serves diverse high-growth segments of large global markets, including advanced wireless devices, wired and wireless networks and defense radar and communications. We also leverage our unique competitive strengths to advance 5G networks, cloud computing, the Internet of Things, and other emerging applications that expand the global framework interconnecting people, places and things. Visit http://www.qorvo.com to learn how Qorvo connects the world.
