Qualcomm Announces Expiration Of Registered Exchange Offer For Notes Issued In Connection With Prior Private Exchange Offer
By Godson Umejiego, Correspondent USA
Qualcomm Incorporated has announced the expiration and final results of its offer to exchange (the “Registered Exchange Offer”) any and all of the US$961,427,000 aggregate principal amount of 1.300 per cent Notes due 2028 (the “2028 Private Placement Notes”) and the US$1,245,206,000 aggregate principal amount of 1.650 per cent Notes due 2032 (together with the 2028 Private Placement Notes, the “Private Placement Notes”) previously issued pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), for an equal principal amount of new notes registered under the Securities Act (the “Registered Notes”).
The Registered Exchange Offer expired at 5:00 p.m., New York City time, on January 4, 2021 (the “Expiration Date”). As of the Expiration Date, the principal amounts of Private Placement Notes had been validly tendered and not validly withdrawn. Qualcomm has accepted for exchange all such tendered Private Placement Notes in the Registered Exchange Offer.
Upon the settlement of the Registered Exchange Offer, holders of Private Placement Notes who validly tendered and did not validly withdraw such notes prior to the Expiration Date will receive a like principal amount of Registered Notes of the applicable series. Qualcomm expects that such settlement will occur on or about January 6, 2021.
The terms of the Registered Notes to be issued upon the settlement of the Registered Exchange Offer are substantially identical to the terms of the corresponding series of Private Placement Notes, except that the Registered Notes will be registered under the Securities Act and the transfer restrictions applicable to the Private Placement Notes will not apply to the Registered Notes. The Registered Notes will represent the same debt as the Private Placement Notes, and Qualcomm will issue the Registered Notes under the same indenture that governs the Private Placement Notes.
The Registered Exchange Offer was made pursuant to the terms and subject to the conditions set forth in a prospectus filed with the Securities and Exchange Commission dated November 20, 2020.