Qualcomm Announces Cash Offers For Four Series Of Notes - Quick Facts

(RTTNews) - Qualcomm Incorporated (QCOM) announced the commencement of a transaction to repurchase four series of its outstanding notes totaling $4 billion. The Cash Offers will expire on May 25, 2018. The Cash Offer Settlement Date will be promptly following the Cash Offer expiration date and is expected to be May 31, 2018.

Qualcomm said, while the company remains committed to the consummation of its acquisition of NXP Semiconductors, it is uncertain if the acquisition will be consummated on or before June 1, 2018. The four series of outstanding notes are intended to finance the acquisition and contain provisions that will require Qualcomm to redeem such notes if the acquisition has not been consummated on or before June 1, 2018 or if the related purchase agreement is terminated beforehand. As a result, Qualcomm is offering to certain holders of such notes the opportunity to tender those notes for cash.