On September 26, 2024, Broadcom Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with J.P. Morgan Securities LLC, TD Securities (USA) LLC and Truist Securities, Inc., acting for themselves and as representatives of the several underwriters named therein (collectively, the “Underwriters”), pursuant to which the Company agreed to issue and sell to the Underwriters $5,000,000,000 aggregate principal amount of its senior notes, consisting of $875,000,000 aggregate principal amount of its 4.150% senior notes due 2028 (the “2028 Notes”), $1,500,000,000 aggregate principal amount of its 4.350% senior notes due 2030 (the “2030 Notes”), $875,000,000 aggregate principal amount of its 4.550% senior notes due 2032 (the “2032 Notes”) and $1,750,000,000 aggregate principal amount of its 4.800% senior notes due 2034 (the “2034 Notes” and together with the 2028 Notes, the 2030 Notes and the 2032 Notes, the “Notes”).
The Notes were registered under the Securities Act of 1933, as amended (the “Act”), pursuant to the Company’s registration statement on Form S-3ASR (File No. 333-280715) (the “Registration Statement”), dated July 8, 2024. On September 30, 2024, the Company filed with the U.S. Securities and Exchange Commission (the “SEC”) a prospectus supplement (the “Prospectus Supplement”), containing the final terms of the Notes pursuant to Rule 424(b)(2) of the Act. The Notes were sold pursuant to the Underwriting Agreement and were issued pursuant to the Prospectus Supplement. The Notes are governed by the Indenture, dated July 12, 2024 (the “Base Indenture”), between the Company and Wilmington Trust, National Association, as trustee (the “Trustee”), as supplemented by the Supplemental Indenture No. 2, dated October 2, 2024 (the “Supplemental Indenture”), between the Company and the Trustee.
The 2028 Notes will mature on February 15, 2028, the 2030 Notes will mature on February 15, 2030, the 2032 Notes will mature on February 15, 2032 and the 2034 Notes will mature on October 15, 2034. The Notes are unsecured, unsubordinated obligations of the Company and will rank equally in right of payment with all of the Company’s existing and future unsecured, unsubordinated indebtedness, liabilities and other obligations. The Notes will not be guaranteed by any of the Company’s subsidiaries and will therefore be structurally subordinated to the indebtedness and other liabilities of the Company’s subsidiaries.
The Company expects to use the net proceeds received from the issuance of the Notes for general corporate purposes and for repayment of debt.
Please refer to the Prospectus Supplement dated September 26, 2024 for additional information regarding the Notes offering and the material terms and conditions of the Notes. The foregoing summary of the Notes does not purport to be complete and is qualified in its entirety by reference to the full text of (i) the Underwriting Agreement attached hereto as Exhibit 1.1; (ii) the Base Indenture, filed as Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on July 12, 2024, a copy of which is attached hereto as Exhibit 4.1; (iii) the Supplemental Indenture attached hereto as Exhibit 4.2; and (iv) the forms of Notes attached hereto as Exhibits 4.3 through 4.6, inclusive, each of which are incorporated by reference herein.
