Skyworks Launches Exchange Offers for Qorvo Senior Notes
Skyworks Solutions announced exchange offers and consent solicitations for two series of Qorvo senior notes. The offers are tied to the planned merger of Qorvo into a Skyworks subsidiary.
financialpost.comSkyworks Solutions, Inc. announced on May 20, 2026, that it has commenced exchange offers for Qorvo's outstanding senior notes. 375% Senior Notes due 2031. The company is offering to exchange up to $850 million principal amount of the 2029 notes and up to $700 million principal amount of the 2031 notes for new Skyworks notes with identical interest rates and maturity dates.
Holders who participate early receive an additional $50 principal amount of new notes.
Skyworks is also soliciting consents from note holders to amend the indentures governing the Qorvo notes. The proposed amendments would eliminate most restrictive covenants, certain affirmative covenants, and certain events of default. 00 per $1,000 principal amount.
All exchange offers and consent solicitations are conditioned on the closing of the merger between Qorvo and a Skyworks subsidiary. The new Skyworks notes will replace the existing fixed redemption schedules with standard investment-grade redemption terms, including a three-month par call and make-whole provisions.
Key Facts
Potential Impact
- 01
Transaction supports Skyworks' planned acquisition of Qorvo.
- 02
Qorvo note holders may exchange existing debt for Skyworks notes with modified terms.
- 03
Indenture amendments could reduce covenant protections for participating note holders.
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