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.