MergerJun 12, 2026, 06:07 AM
Qorvo Amends Senior Note Indentures for Skyworks Merger
AI Summary
Qorvo, Inc. has entered into supplemental indentures for its 4.375% Senior Notes due 2029 and 3.375% Senior Notes due 2031. These actions are in connection with the previously announced proposed merger of Qorvo into Skyworks Solutions, Inc. Skyworks is offering to exchange Qorvo's outstanding notes for new Skyworks notes and has successfully solicited consents from noteholders to eliminate substantially all restrictive covenants and certain other provisions in the indentures. The amendments will become operative upon the consummation of the mergers or settlement of the exchange offers.
Key Highlights
- Qorvo entered supplemental indentures for 4.375% Senior Notes due 2029 and 3.375% Senior Notes due 2031.
- Actions are in connection with the proposed merger of Qorvo into Skyworks Solutions, Inc.
- Skyworks offers to exchange up to $850 million of 2029 Company Notes for new Skyworks notes.
- Skyworks offers to exchange up to $700 million of 2031 Company Notes for new Skyworks notes.
- Qorvo received requisite consents to amend indentures for both 2029 and 2031 notes.
- Amendments eliminate substantially all restrictive covenants and certain events of default.
- Amendments become operative upon merger consummation or exchange offer settlement.
Price Impact
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