Loan & DebtApr 15, 2026, 04:41 PM
Marvell Issues $1B Senior Notes Due 2036 at 5.300%
AI Summary
Marvell Technology, Inc. completed a public offering of $1 billion in 5.300% Senior Notes due 2036. The company received approximately $993.5 million in net proceeds from the offering. These funds will primarily be used to repay existing debt, including its 1.650% senior notes due 2026, with any remaining funds allocated for general corporate purposes such as working capital, dividends, and potential acquisitions.
Key Highlights
- Issued $1 billion aggregate principal amount of Senior Notes.
- Notes carry an interest rate of 5.300% per year.
- Maturity date is April 15, 2036.
- Net proceeds totaled approximately $993.5 million.
- Proceeds to repay 1.650% senior notes due 2026.