QUALCOMM Incorporated (QCOM, Financial) has announced the execution of an Officers’ Certificate in connection with the issuance of $1.5 billion in senior unsecured notes. The offering includes $500 million of 4.500% Notes due 2030, $400 million of 4.750% Notes due 2032, and $600 million of 5.000% Notes due 2035. These notes are part of the company's strategy to manage its debt portfolio effectively.
The notes will bear interest at rates of 4.500%, 4.750%, and 5.000% per annum for the 2030, 2032, and 2035 notes, respectively. Interest payments are scheduled semiannually on May 20 and November 20, starting November 20, 2025. The notes are senior unsecured obligations, ranking equally with QUALCOMM's other senior debt.
QUALCOMM retains the option to redeem the notes at specified redemption prices. The indenture governing the notes includes customary default events, such as failure to make payments or comply with covenants, and certain bankruptcy or insolvency events. In the event of a default, the trustee or holders of at least 25% of the outstanding notes may declare the acceleration of amounts due.
The issuance is part of a registered public offering underwritten by J.P. Morgan Securities LLC, BofA Securities, Inc., Barclays Capital Inc., Goldman Sachs & Co. LLC, and Morgan Stanley & Co. LLC. This offering was conducted under QUALCOMM's shelf registration statement filed with the SEC on November 6, 2024.
For more detailed information, investors are encouraged to review the full terms and conditions of the underwriting agreement and the indenture.
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