Financial News Release
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|Avago Technologies Announces Expiration of the Early Tender Date and Results to Date of its Tender Offer for Outstanding Notes|
Tender Offer Consideration Increased for Notes Tendered After the Early Tender Date
Avago Finance is increasing the Tender Offer Consideration on each
series of Notes so that the Tender Offer Consideration now equals the
Total Consideration, including the Early Tender Premium of
The Tender Offer is being made pursuant to the Offer to Purchase, dated
If Notes are validly tendered in the Tender Offer at or prior to the Expiration Date such that the aggregate principal amount tendered exceeds the Maximum Tender Amount, Avago Finance will accept for purchase, up to the Maximum Tender Amount, Notes in accordance with the acceptance priority level described in the Offer to Purchase.
Payment for (a) the 11-7/8% Notes validly tendered after the Early Tender Date and at or before the Expiration Date and accepted for purchase, and (b) the 10-1/8% Notes and the Floating Rate Notes validly tendered at or before the Expiration Date and accepted for purchase is expected to be made promptly after the Expiration Date.
Withdrawal rights for the Tender Offer have expired.
The consummation of the Tender Offer is not conditioned upon any minimum amount of Notes being tendered, but is conditioned upon the satisfaction or waiver of the conditions set forth in the Offer to Purchase.
The CUSIP numbers of the Notes are as follows: 11-7/8% Senior Subordinated Notes due 2015 (CUSIP 05336XAF8); 10-1/8% Senior Notes due 2013 (CUSIPs 05336XAD3, U05212AA0); and Senior Floating Rate Notes due 2013 (CUSIP 05336XAE1).
Citi is the sole dealer manager of the Tender Offer.
None of Avago Finance or its affiliates, its board of directors, the dealer manager, the depositary and information agent or the trustee for the Notes, makes any recommendation as to whether holders of the Notes should tender or refrain from tendering the Notes. This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities. The Tender Offer is made only by the Offer to Purchase and the accompanying Letter of Transmittal. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the Tender Offer is required to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of Avago Finance by the dealer manager, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About Avago Finance
Avago Finance is a leading designer, developer and global supplier of
analog semiconductor devices for communications, industrial and consumer
applications. Avago Finance is an indirectly wholly owned subsidiary of
Safe Harbor Statement
This press release contains forward-looking statements. These
forward-looking statements are based on current expectations, estimates,
forecasts and projections of future company or industry performance
based on management’s judgment, beliefs, current trends and market
conditions and involve risks and uncertainties that may cause actual
results to differ materially from those contained in the forward-looking
statements. Accordingly, we caution you not to place undue reliance on
these statements. Factors that could cause or contribute to such
differences include, but are not limited to, the amount of Notes
tendered and satisfaction of the conditions of the Tender Offer
contained in the Offer to Purchase. Other factors that could cause or
contribute to actual results differing materially from such
forward-looking statements are discussed in greater detail in the
Summit IR Group Inc.