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4-Traders Homepage  >  Equities  >  Nasdaq  >  Brocade Communications Systems, Inc.    BRCD

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Brocade Communications : Broadcom Announces Pricing of Private Offering of Senior Notes

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10/11/2017 | 04:52pm CEST

(GlobeNewswire) - Broadcom Limited (Nasdaq:AVGO) (Broadcom or the Company) announced today that two of its subsidiaries, Broadcom Corporation and Broadcom Cayman Finance Limited (together, the Co-Issuers), have priced the previously announced offering of $750 million of 2.200% Senior Notes due 2021, $1,000 million of 2.650% Senior Notes due 2023, $1,000 million of 3.125% Senior Notes due 2025 and $1,250 million of 3.500% Senior Notes due 2028. The closing of the offering is expected to occur on October17, 2017, subject to customary closing conditions. The notes will be guaranteed on a senior unsecured basis by Broadcom and its subsidiary, Broadcom Cayman L.P. The Co-Issuers intend to use the net proceeds from the sale of the notes, plus cash on hand, to finance the pending acquisition of Brocade Communications Systems, Inc., or, if such acquisition is not completed, for general corporate purposes, which could include future acquisitions.

The securities are being sold in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to non-U.S. persons outside the United States under Regulation S under the Securities Act. The securities have not been registered under the Securities Act, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

This press release is neither an offer to sell nor a solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements (including within the meaning of Section21E of the United States Securities Exchange Act of 1934, as amended, and Section27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance and statements about the proposed offering and the use of proceeds therefrom and other statements identified by words such as will, expect, believe, anticipate, estimate, should, intend, plan, potential, predict project, aim, and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of the management of Broadcom, as well as assumptions made by, and information currently available to, such management, current market trends and market conditions and involve risks and uncertainties, many of which are outside the Companys and managements control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements.

Particular uncertainties that could materially affect future results include any risks associated with loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturers and outsourced supply chain; any acquisitions we may make, including our pending acquisition of Brocade Communications Systems, Inc., such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions and with integrating acquired companies with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected from such acquisitions; our ability to accurately estimate customers demand and adjust our manufacturing and supply chain accordingly; our significant indebtedness, including the need to generate sufficient cash flows to service and repay such debt; dependence on and risks associated with distributors of our products; our ability to improve our manufacturing efficiency and quality; increased dependence on a small number of markets; quarterly and annual fluctuations in operating results; cyclicality in the semiconductor industry or in our target markets; global economic conditions and concerns; our competitive performance and ability to continue achieving design wins with our customers, as well as the timing of those design wins; rates of growth in our target markets; prolonged disruptions of our or our contract manufacturers manufacturing facilities or other significant operations; our dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to maintain or improve gross margin; our ability to maintain tax concessions in certain jurisdictions; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product and warranty and indemnification claims; our ability to sell to new types of customers and to keep pace with technological advances; market acceptance of the end products into which our products are designed; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive and regulatory nature.

Our filings with the Securities and Exchange Commission (SEC), which you may obtain for free at the SECs website at http://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no intent or obligation to publicly update or revise any of these forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Broadcom Limited Ashish Saran Investor Relations +1 408 433 8000 [email protected]

(c) All KUNA right are reserved 2017. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 2 311 M
EBIT 2017 362 M
Net income 2017 -
Debt 2017 162 M
Yield 2017 1,78%
P/E ratio 2017 -
P/E ratio 2018 19,05
EV / Sales 2017 2,18x
EV / Sales 2018 2,09x
Capitalization 4 887 M
Chart BROCADE COMMUNICATIONS SYS
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Brocade Communications Sys Technical Analysis Chart | BRCD | US1116213067 | 4-Traders
Technical analysis trends BROCADE COMMUNICATIONS SYS
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 5
Average target price 12,8 $
Spread / Average Target 8,3%
EPS Revisions
Managers
NameTitle
Lloyd A. Carney Chief Executive Officer & Director
Dave L. House Chairman
Gale E. England Chief Operating Officer & Senior VP-Operations
Daniel W. Fairfax Chief Financial Officer & Senior Vice President
Ken K. Cheng CTO, SVP-Corporate Development & Emerging Business
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