Broadcom issuing debt, might use proceeds to refinance


Broadcom (BRCM -1.2%) is selling senior notes due 2024 and 2044. It hasn't yet disclosed the offering's size. (prospectus)

The company says it might use some of the proceeds to redeem up to $400M of its 2.375% 2015 notes. Broadcom had $2.36B in cash at the end of Q2, and $1.4B in debt.

The offering comes as Broadcom gets set to wind down its baseband processor ops, and cut 2.5K jobs along the way.

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