Broadcom prices $13.5B debt offering

• Broadcom (NASDAQ:AVGO) has priced a private offering of more than $13B in debt, in several tranches.
• The company priced $2.75B in 2.375% senior notes due 2020; $3.5B in 3% senior notes due 2022; 2.5B in 3.625% senior notes due 2024; and $4.8B in 3.875% senior notes due 2027.
• The issuers are two subsidiaries (Broadcom Corp. and Broadcom Cayman Finance Ltd.) that will use proceeds to repay outstanding indebtedness.
• The offer is expected to close Jan. 19.