HALISTER: LAUNCH: Qualcomm 9-Part $11b Debt Offering

LAUNCH: Qualcomm 9-Part $11b Debt Offering

(Bloomberg) -- Deal launched across nine tranches.
  • Tranches (Guidance, IPT)
    • $1.25b 2y Fxd (5/20/2019) at +60
      • +65a, +70a
    • $750m 2y FRN (5/20/2019) at 3mL+36
      • L equiv
    • $1.5b 3y Fxd (5/20/2020) at +65
      • +70a, +80a
    • $500m 3y FRN (5/20/2020) at 3mL+45
      • L equiv
    • $1.5b 5.5y Fxd (1/30/2023) at +85
      • +90a, +100a
    • $500m 5.5y FRN (1/30/2023) at 3mL+73
      • L+78a, L+88a
    • $1.5b 7y (5/20/2024) at +90
      • +95a, +110a
    • $2b 10y (5/20/2027) at +105
      • +110a, +125a
    • $1.5b 30y (5/20/2047) at +140
      • +145a, +165a
    • Guidance area was (+/-5bp)
  • Issuer: Qualcomm Inc (QCOM)
  • Ratings: A1/A
  • Format: SEC Registered Sr Unsecured Notes
  • UOP: To pay for NXP and GCP
  • Bookrunners: BofAML, GS, JPM
  • Settlement: 5/26/2017 (T+5)
  • Denoms: $2k x $1k
  • Special Mandatory Redemption: 101% on 2y, 3y only
  • Par Calls: 5y (1mo), 7y (2mo), 10y (3mo), 30y (6mo)
  • NOTE: Qualcomm May Issue $10b-$12b for NXP Deal, BI Says
  • NOTE: QCOM last issued 8-part $10b debt two years ago
  • Information from person familiar with the matter, who is not authorized to speak publicly and asked not to be identified

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
QCOM US (QUALCOMM Inc)

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UUID: 7947283