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Latham & Watkins Advises Broadcom Inc. in Private Offering of Senior Notes and Debt Tender Offer

April 6, 2020
Bicoastal team advised on the global technology leader’s offering.

Broadcom Inc. (Broadcom) has announced that it has priced its previously announced offering of US$2.25 billion of 4.700% Senior Notes due 2025 (the 2025 Notes) and US$2.25 billion of 5.000% Senior Notes due 2030 (the 2030 Notes and, together with the 2025 Notes, the Notes). Broadcom intends to use the net proceeds from the sale of the Notes to repay certain of its existing indebtedness, including funding the tender offer of certain series of existing notes and the payment of accrued and unpaid interest, premiums, if any, fees and expenses in connection therewith. The New Notes will be guaranteed on a senior unsecured basis by certain of Broadcom's subsidiaries. The offering is expected to close on April 9, 2020, subject to customary closing conditions.

Latham & Watkins LLP represented Broadcom in the offering with a corporate team led by Bay Area partner Tony Richmond and New York partner Greg Rodgers, with New York partner Peter Sluka, Bay Area partner Brian Paulson, and New York associates Gemma Mootoo Rajah, Jonathan Burns, and Tina Jeon, and Orange County associate Eric Hanzich. Advice was also provided on tax matters by New York partners Bora Bozkurt and David Raab, with associate Aaron Bernstein; and on benefits & compensation matters by New York partner Bradd Williamson, with associate Anne Bracaglia.