Press release
Qualcomm Announces Private Exchange Offers for Four Series of Notes Open to Certain Investors
SAN DIEGO, Aug. 5, 2020 /PRNewswire/ -- Qualcomm Incorporated (NASDAQ: QCOM) announced today the commencement of a transaction to exchange four series of its
About this update from Qualcomm Incorporated
[{"type":"text","content":"SAN DIEGO, Aug. 5, 2020 /PRNewswire/ -- Qualcomm Incorporated (NASDAQ: QCOM) announced today the commencement of a transaction to exchange four series of its outstanding notes totaling $7.0 billion. The exchange transaction consists of four separate private offers to exchange (each, an \"Exchange Offer,\" and collectively, the \"Exchange Offers\") any and all of the outstanding notes listed in the table below (collectively, the \"Old Notes\"). Qualcomm is offering to certain holders of such notes the opportunity to exchange each of the four series of Old Notes for two new series of Qualcomm's senior notes, on the terms and subject to the conditions set forth in the Offering Memorandum dated August 5, 2020 (the \"Offering Memorandum\" and, together with the eligibility letter, the Canadian holder form and the notice of guaranteed delivery, the \"Exchange Offer Documents\"). No consents are being solicited as part of the Exchange Offers. The Exchange Offers are subject to minimum conditions as set forth in the table below.\nOnly holders who are \"qualified institutional buyers\" or who are non-U.S. persons (other than \"retail investors\" in the European Economic Area or in the United Kingdom and investors in any province or territory of Canada that are individuals or that are institutions or other entities that do not qualify as both \"accredited investors\" and \"permitted clients\") are eligible to participate in this transaction, as more fully described below. Concurrently with this transaction, Qualcomm also announced today the commencement of a transaction to repurchase such four series of notes pursuant to cash tender offers (each, a \"Cash Offer\" and collectively, the \"Cash Offers\"), which are open only to Ineligible Holders (as defined below).\nThe Exchange Offers will expire at 5:00 p.m., New York City time, on August 11, 2020, unless extended or earlier terminated by Qualcomm (the \"Exchange Offer Expiration Date\"). Tenders of Old Notes submitted in the Exchange Offers may be validly withdrawn at any time at or prior to 5:00 p.m., New York City time, on August 11, 2020, subject to any extension by Qualcomm, but thereafter will be irrevocable, except in certain limited circumstances where additional withdrawal rights are required by law (as determined by Qualcomm). The \"Exchange Offer Settlement Date\" will be promp...