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Quotes & Info
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| AVGO > SEC Filings for AVGO > Form 8-K on 28-Oct-2009 | All Recent SEC Filings |
28-Oct-2009
Triggering Events That Accelerate or Increase a Direct Financial Obligatio
On October 28, 2009, pursuant to the Indenture, dated December 1, 2005, as amended on April 11, 2006, January 3, 2007, June 15, 2007, December 13, 2007 and February 28, 2008 (collectively, the "Indenture"), by and among Avago Technologies Finance Pte. Ltd., Avago Technologies U.S. Inc. and Avago Technologies Wireless (U.S.A.) Manufacturing Inc. (the "Issuers"), the guarantors named therein and The Bank of New York as trustee (the "Trustee"), the Issuers notified the Trustee of their election to redeem (a) the remaining $318,496,000 aggregate principal amount outstanding of their 101/8% Senior Notes due 2013 (the "Fixed Rate Notes") and (b) the remaining $45,681,000 aggregate principal amount outstanding of their Senior Floating Rate Notes due 2013 (the "Floating Rate Notes" and together with the Fixed Rate Notes, the "Notes"), in each case issued pursuant to the Indenture. The redemption date for the Notes will be December 1, 2009 (the "Redemption Date").
The Fixed Rate Notes will be redeemed at a redemption price of 105.063% of their aggregate principal amount outstanding, plus accrued and unpaid interest thereon up to, but not including, the Redemption Date, and the Floating Rate Notes will be redeemed at a redemption price of 100.000% of their aggregate principal amount outstanding, plus accrued and unpaid interest thereon up to, but not including, the Redemption Date. The Issuers will be required to pay an aggregate of approximately $350.7 million in respect of the Fixed Rate Notes and approximately $46.4 million in respect of the Floating Rate Notes on the Redemption Date.
On October 23, 2009, Avago Technologies Limited issued a press release announcing the redemption described under Item 2.04 above. A copy of this press release is filed herewith as Exhibit 99.1 to this Current Report.
(d) Exhibits.
Exhibit No. Description
99.1 Press release, dated October 23, 2009, entitled "Avago Technologies
Announces Intention to Redeem Senior Fixed Rate Notes and Senior
Floating Rate Notes".
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Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K (including the press release attached hereto as
Exhibit 99.1), contains forward-looking statements, within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Exchange Act, which address our expected future business and financial
performance. 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. For Avago,
particular uncertainties which could adversely or positively affect future
results include cyclicality in the semiconductor industry or in our end markets;
the recent financial crisis and its impact on our business, results of
operations, and financial condition; fluctuations in interest rates; our ability
to generate cash sufficient to service our debt and to fund our research and
development, capital expenditures and other business needs; our increased
dependence on outsourced service providers for certain key business services and
their ability to execute to our requirements; our dependence on contract
manufacturing and outsourced supply chain; quarterly and annual fluctuations in
operating results; loss of our significant customers; our ability to maintain
tax concessions in certain jurisdictions; our ability to protect our
intellectual property; our competitive performance and ability to continue
achieving design wins with our customers; any expenses associated with resolving
customer product and warranty
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