Broadcom 8-K

Summary

Broadcom issued $4.5B of senior notes and arranged redemptions of four existing note series. Proceeds are intended for general corporate purposes and debt repayment.

Key Figures

• New notes, $4.5B aggregate principal: $750M at 4.300%, due 1/15/2031; $1.25B at 4.600%, due 1/15/2033; $1.25B at 4.950%, due 1/15/2036; and $1.25B at 5.700%, due 1/15/2056. The notes are unsecured, unsubordinated obligations, are not guaranteed by subsidiaries, and are structurally subordinated to subsidiary liabilities.
• Planned redemptions: $1.12B of 4.110% notes due 2028 on 1/22/2026; $875M of 4.150% notes due 2028 and $757M of 5.050% notes due 2027 on 1/17/2026; and $1.25B of VMware’s 3.900% notes due 2027 on 2/6/2026. The 4.110%, 4.150% and 3.900% series amounts are each the full amount outstanding.
• Redemption prices are the greater of par or the present value of remaining scheduled payments, discounted at the Treasury Rate plus 50 bp for the 4.110% notes, 10 bp for the 4.150% and 5.050% notes, and 25 bp for the 3.900% notes; accrued interest is also payable.

Investor Takeaways

• Watch for completion of the scheduled redemptions on 1/17/2026, 1/22/2026 and 2/6/2026, with final redemption prices determined under the stated formulas.