SAN JOSE, Calif.,
March 29, 2019 /PRNewswire/ -- Broadcom Inc. (Nasdaq:
AVGO) ("Broadcom") announced today that it intends to offer senior
notes, subject to market conditions and other factors. The notes
will be guaranteed on a senior unsecured basis by certain of
Broadcom's subsidiaries. Broadcom intends to use the net proceeds
from the sale of the notes to repay outstanding indebtedness under
its existing credit agreement.
The securities are being sold in a private placement 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 non-U.S. persons outside the United States under Regulation S under the
Securities Act. The securities have not been and will not be
registered under the Securities Act, and may not be offered or sold
in the United States absent
registration or an applicable exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and other applicable securities laws.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
This notice is being issued pursuant to and in accordance with Rule
135c under the Securities Act.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements (including
within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended, and Section 27A
of the United States Securities Act of 1933, as amended) concerning
Broadcom. These statements include, but are not limited to,
statements that address our expected future business and financial
performance and statements about the proposed offering and the use
of proceeds therefrom and other statements identified by words such
as "will", "expect", "believe", "anticipate", "estimate", "should",
"intend", "plan", "potential", "predict" "project", "aim", and
similar words, phrases or expressions. These forward-looking
statements are based on current expectations and beliefs of the
management of Broadcom, as well as assumptions made by, and
information currently available to, such management, current market
trends and market conditions and involve risks and uncertainties,
many of which are outside Broadcom's and management's control, and
which may cause actual results to differ materially from those
contained in forward-looking statements. Accordingly, you should
not place undue reliance on such statements.
Particular uncertainties that could materially affect future
results include risks associated with: our acquisition of CA, Inc.,
or CA, including (1) potential difficulties in employee
retention, (2) unexpected costs, charges or expenses, and
(3) our ability to successfully integrate CA's business and
achieve the anticipated benefits of the transaction; any loss of
our significant customers and fluctuations in the timing and volume
of significant customer demand; our dependence on contract
manufacturing and outsourced supply chain; any other acquisitions
we may make, including integrating acquired companies with our
existing businesses and our ability to achieve the benefits, growth
prospects and synergies expected by such acquisitions; our ability
to accurately estimate customers' demand and adjust our
manufacturing and supply chain accordingly; our significant
indebtedness and the need to generate sufficient cash flows to
service and repay such debt; our dependency on a limited number of
suppliers; dependence on and risks associated with distributors of
our products; dependence on senior management and our ability to
attract and retain qualified personnel; global economic conditions
and concerns; quarterly and annual fluctuations in operating
results; the amount and frequency of our stock repurchases;
cyclicality in the semiconductor industry or in our target markets;
our competitive performance and ability to continue achieving
design wins with our customers, as well as the timing of any design
wins; prolonged disruptions of our or our contract manufacturers'
manufacturing facilities or other significant operations; our
ability to improve our manufacturing efficiency and quality; our
dependence on outsourced service providers for certain key business
services and their ability to execute to our requirements; our
ability to maintain or improve gross margin; our ability to protect
our intellectual property and the unpredictability of any
associated litigation expenses; compatibility of our software
products with operating environments, platforms or third-party
products; our ability to enter into satisfactory software license
agreements; sales to our government clients; availability of third
party software used in our products; use of open source code
sources in our products; any expenses or reputational damage
associated with resolving customer product warranty and
indemnification claims; our ability to sell to new types of
customers and to keep pace with technological advances; market
acceptance of the end products into which our products are
designed; our ability to protect against a breach of security
systems; changes in accounting standards; fluctuations in foreign
exchange rates; our provision for income taxes and our overall cash
tax costs, legislation that may impact our overall cash tax costs
and our ability to maintain tax concessions in certain
jurisdictions; and other events and trends on a national, regional
and global scale, including those of a political, economic,
business, competitive and regulatory nature.
Our filings with the Securities and Exchange Commission ("SEC"),
which you may obtain for free at the SEC's website at
http://www.sec.gov, discuss some of the important risk factors that
may affect our business, results of operations and financial
condition. Actual results may vary from the estimates provided. We
undertake no intent or obligation to publicly update or revise any
of the estimates and other forward-looking statements made in this
announcement, whether as a result of new information, future events
or otherwise, except as required by law.
Contact:
Broadcom Inc.
Beatrice F. Russotto
Investor Relations
408-433-8000
investor.relations@broadcom.com
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SOURCE Broadcom Inc.